Today's Research Reports on Stocks to Watch: Exact Sciences and Immunogen
NEW YORK, NY / ACCESSWIRE / June 22, 2017 / Exact Sciences Corporation saw gains of over 5% yesterday despite any big news. The company has been on a rally in the last month with shares seeing gains of 16% since start of May. Traders have been pumped after the company announced that United Group has agreed to cover Exact Science's colon cancer test Colorguard. Shares of Immunogen also soared in Wednesday trading despite any big news, and even hit a new high.
RDI Initiates Coverage on:
Exact Sciences Corporation
https://ub.rdinvesting.com/news/?ticker=EXAS
ImmunoGen, Inc.
https://ub.rdinvesting.com/news/?ticker=IMGN
Exact Sciences Corporation's shares closed up 5.17% on Wednesday but without any big news from the company to explain the move. Shares have been on fire in recent weeks after the company announced that UnitedHealth Group would cover its Colorguard colon test. The fact that United Group is the largest health insurer in the U.S. was very encouraging news for investors. Since the company launched Colorguard, over 450,000 patients were tested for colon cancer. A whopping 45% of the tests conducted were on people who previously were not screened adequately. The company forecasts that sales will grow to $195 million this year compared to $99 million in 2016.
Access RDI's Exact Sciences Research Report at:
https://ub.rdinvesting.com/news/?ticker=EXAS
ImmunoGen, Inc. was one of the leading winners on the NASDAQ yesterday, closing in the green up 11.07%. The stock hit a new high of $6.10 during intra-day trading and had its second day of gains in a row yesterday and is now up 31% in the last three days. So why the big moves for the company? That's the thing, nobody knows. There has not been any remarkable news to explain the rally, but biotech stocks are known sometimes for moving higher with no major catalysts. Immunogen has a phase 3 trial called FORWARD I that's testing mirvetuximab soravtansine in women with ovarian cancer that started back in January. Traders are focused on the enrollment of the trial because the sooner it happens, the sooner there can be results so that it potentially gets approved. The company has only $126.6 million in its bank account which the company estimates will last only till 2Q2018.
Access RDI's ImmunoGen Research Report at:
https://ub.rdinvesting.com/news/?ticker=IMGN
Our Actionable Research on Exact Sciences Corporation (NASDAQ: EXAS) and ImmunoGen, Inc. (NASDAQ: IMGN) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
