Truist Securities Maintains Buy Rating for Immunogen: Here's What You Need To Know

Truist Securities has decided to maintain its Buy rating of Immunogen IMGN and raise its price target from $15.00 to $18.00.

Shares of Immunogen are trading down 2.6% over the last 24 hours, at $14.97 per share.

A move to $18.00 would account for a 20.24% increase from the current share price.

About Immunogen

Immunogen Inc is a clinical-stage biotechnology company from the United States. Its focus is antibody-drug conjugate, or ADC, technology, which uses an antibody that fixes on a target (its antigen) found on tumor cells to deliver a specific cancer-killing agent.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.