Brean Murray Carret Reiterates Buy On Immunogen (IMGN)

Ling Wang, an analyst at Brean Murray Carret, reiterated a Buy on Immunogen Inc (NASDAQ: IMGN).

A 12 month target price of $12 has been derived by summing up the following components of Immunogen’s development programs: the leading product candidate T-DM1 is valued at $350 million, the remaining pipeline of the clinical stage products at $150 million and its antibody-based platform technologies at S200 million.

T-DM1 has performed exceptionally well in the phase 2 trails and the analyst believes that it will emerge as a new standard of care in future.