Jefferies analyst Thomas Wei reiterated a Buy rating and $21 price target on Immunogen Inc. (NASDAQ: IMGN) Monday, noting positive feedback on IMGN-901 from a consultant call.
"On a Jefferies hosted lung cancer specialist call, our physician consultant expressed a favorable view of IMGN’s lorvotuzumab mertansine (IMGN901), an antibody drug conjugate being evaluated in combination with chemotherapy for the treatment of small cell lung cancer (SCC) in the ongoing Phase 2 NORTH trial," Wei notes. "We were incrementally encouraged by the feedback but await NORTH data in mid-2014. IMGN901 currently represents upside to our valuation for IMGN."
Thanks, noticed this recently on the IV board. IF 901 is commercially viable this would be big for IMGN. For some reason I still don't expect positive results from 901. If IMGN management thinks 901 will be a break through, why would insiders sell any of their stock? Skeptical, but always hopeful.