Early weakness was likely attributable to Morgan Stanley, where analysts downgraded the shares to Underweight with a $9.50 price target citing trouble with IMGN901.
Credit Suisse has a $14 target. Site $7 for Kadcyla program and $1 for Cash and NOLs. They liked SAR 650984 in MML, but feel SNY is moving too slow w program and may be late to market against JNJ-Genmab and CELG - Morphosys. Thought SAR3419 data was week.
anything B-cell related (529) will have a high hurdle since some new, good drugs are hitting the market and in mid-late development.
Agree, Sanofi needs to pick up the pace. Looking forward to AMGN developments and more info on the LLY molecules/targets. Some positive comments mentioned on IV board regarding Kadcyla from the SABC.
289 is the drug IMGN needs to put their full effort behind, or find an aggressive, qualified partner that can do a Kadcyla-like job. 853 FOLR seems to be a popular new target, need to see more data.
IMGN's value is the partnerships, technology, John Lambert's discovery team and the pipeline. Executives and all other activities are costs that provide little value/return. IMGN should be a drug and technology development division for an oncology-focused biotech, or pharma firm. Execs are just sucking money, value and time from IMGN shareholders and developments IMO. Based on a rough, sum of the current parts calculation, I think it's worth around $24 in an acquisition now, or within the next 6-12 months. All IMO, not individual investment advice.