|Bid||1.9400 x 800|
|Ask||1.9500 x 800|
|Day's Range||1.9300 - 2.0000|
|52 Week Range||1.9000 - 12.3100|
|Beta (3Y Monthly)||2.10|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 25, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||5.29|
Benzinga has examined prospects for many investor favorite stocks over the past week. Bearish calls included biotechs and a recent IPO. Furthermore, investors also saw mixed economic numbers, as well as positive surprises in quarterly reports and initial public offerings, bad news for a market darling from the Supreme Court, and fresh news for whale watchers.
NEW YORK, NY / ACCESSWIRE / May 18, 2019 / Pomerantz LLP is investigating claims on behalf of investors of ImmunoGen, Inc. ("ImmunoGen" or the "Company") (NASDAQ: IMGN). Such investors ...
FDA advises ImmunoGen (IMGN) to conduct a phase III study to evaluate the safety and efficacy of lead candidate - mirvetuximab soravtansine.
Why Did Immunogen Stock Crash on May 15?(Continued from Prior Part)Recent share price movementsOn May 15, Immunogen (IMGN) issued a press release announcing mature data from its FORWARD II expansion cohort, which is evaluating the combination of
Why Did Immunogen Stock Crash on May 15?Recent regulatory updateOn May 15, Immunogen (IMGN) issued a press release announcing the FDA’s recommendation to conduct a new Phase 3 trial evaluating mirvetuximab soravtansine monotherapy in high folate
Results to be Presented at 2019 ASCO Annual Meeting
plunged more than 30% on Wednesday after the company revealed that the U.S. Food and Drug Administration has recommended further trials to "evaluate the safety and efficacy" of one of its cancer-fighting treatments. ImmunoGen said in statement that it had requested a meeting with FDA officials to discuss the results of its Phase 3 FORWARD I trial and a potential path to registration for mirvetuximab monotherapy - a treatment it has been developing for patients with certain forms of ovarian cancer. In response, the FDA told ImmunoGen that because the data results produced to date have not been able to meet expectations, "... the study could not be used to support an application for accelerated approval," ImmunoGen said in a statement.
Shares of ImmunoGen, Inc. fell 32% in premarket trade Wednesday after the company said the U.S. Food and Drug Administration recommended conducting a new Phase 3 trial of its ovarian cancer drug, mirvetuximab soravtansine. A recent trial looking at the drug as an ovarian cancer therapy did not meet its primary endpoint. ImmunoGen met with the FDA this past week to discuss the trial and a potential path forward, and the agency provided guidance on trial design and endpoints, the company said. "Our meeting with FDA enabled us to clarify a regulatory path forward for mirvetuximab and we are evaluating all avenues to bring this promising therapy to ovarian cancer patients," Immunogen Chief Executive Mark Enyedy said in a statement. The Waltham, Mass.-based biotech has been working on mirvetuximab as a potential treatment for patients with ovarian cancer who haven't responded to platinum treatment and who also test positive for high folate receptor α. Shares of the biotech have fallen 34% so far this year through Tuesday, while the S&P 500 has gained 13%.
ImmunoGen, Inc., (IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced the United States Food and Drug Administration (FDA) has recommended that the Company conduct a new Phase 3 randomized trial to evaluate the safety and efficacy of mirvetuximab soravtansine in patients with high folate receptor alpha (FRα)-positive, platinum-resistant ovarian cancer as part of a Type C meeting held this week. ImmunoGen requested the meeting to discuss the results of the Phase 3 FORWARD I trial and a potential path to registration for mirvetuximab monotherapy. FDA acknowledged that platinum-resistant ovarian cancer is a disease with unmet need, provided guidance regarding the design and endpoints of a potential registration study, and encouraged the Company to return to discuss a proposed study design.
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ImmunoGen (IMGN) delivered earnings and revenue surprises of 3.23% and -14.13%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
On a per-share basis, the Waltham, Massachusetts-based company said it had a loss of 30 cents. The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment ...
Encouraging Efficacy Signal Observed in Pre-Specified Subset of Patients in Phase 3 FORWARD I Study; Company to Meet with Regulators this Quarter to Discuss Potential Path Forward
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! In December 2018, ImmunoGen, Inc. (NASDAQ:IMGN) released its latest earnings announcement, which...
ImmunoGen (IMGN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
ImmunoGen, Inc., (IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that the Company will host a conference call at 8:00 a.m. ET on Friday, May 3, 2019 to discuss its first quarter operating results. The call may also be accessed through the Investors and Media section of the Company’s website, www.immunogen.com. ImmunoGen is developing the next generation of antibody-drug conjugates (ADCs) to improve outcomes for cancer patients.
Investing in biotech companies requires a lot of faith and courage. It is not easy to risk assets into a stock on faith that their research will deliver viable results. This clearly makes ImmunoGen (NASDAQ:IMGN) a momentum stock. This makes it difficult to trade because on the way down, it seems headed to zero. But therein lies an opportunity.Source: Shutterstock While the iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) has been flirting with all-time highs for months, IMGN stock has fallen off a cliff. This year, the IBB is up 14% while IMGN is down 44% for the same period. It is now as close to its lows as the sector is to its highs.Clearly there is little hopium left in the stock price. Buying it here resembles a lotto ticket. I emphasize the word bet, as this is definite more gambling than investing.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHowever, buying a stock with a cheap sticker price like IMGN doesn't mean it is cheap from a valuation perspective. Meaning that even though the stock has a $2.70 face value, I could still lose 100% of my money. So, How to Play IMGN StockIf I already own the shares, it's probably too late to sell them now, but that also depends on the investor time-frame and thesis on IMGN. Adding new positions here would require me to have new information to do it with conviction. This chart is too ugly for me to buy without inside information or new fundamental reasons to expect a rebound.This is a knife that I don't want to catch for an investment thesis. But there is room for speculation in some portfolios, so I understand the attraction to bet on better days to come for IMGN stock. * 7 Mid-Cap Stocks to Find the Market's Sweet Spot Those looking to gamble on a rebound need to plug their nose and take small position. Or better yet, use the options markets to buy calls or call spreads. There, I could make it a small investment with a huge upside percentage gain. Options offer a much bigger bang for the buck than buying the underlying equity outright.After this year's February cliff, ImmunoGen stock is coming into the earnings event next month from rock bottom. Half of the Wall Street expert analysts still rate the stock as a buy with an average price target that is more than double its current value. So they must still see value in holding on to the shares for now. While this alone is not a reason to buy the shares, clearly these analysts have reasons for sticking with their optimistic outlook even as though price approaches zero.I never assume that I am catching absolute bottoms in any stock I trade, so I don't take a full-sized position. Since clearly IMGN stock is not a viable investment thesis yet, any long position here is more hopium than conviction. So I would keep the size small so that it doesn't break the heart or the piggy bank.ImmunoGen stock has been trending down for five years, so there is no reason to assume it can flip on a dime. Moreover, the equity markets in general are also near all-time highs, so it's likely that IMGN stock could have more macroeconomic downside pressure from a correction.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him as @racernic on Twitter and Stocktwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Internet Stocks to Watch * 7 AI Stocks to Watch with Strong Long-Term Narratives * 10 Dow Jones Stocks Holding the Blue Chip Index Back Compare Brokers The post ImmunoGen Stock Is in Trouble Going Into Earnings appeared first on InvestorPlace.