Immunogen Makes a Move: Up 2.6%

Published on Tue, 06/30/2015 - 12:33
By Robert Cotter in Market movers, IMGN, immunogen, market movers, nasdaq:imgn

Immunogen (NASDAQ:IMGN) is one of today's biggest movers, up 2.6% to $14.16. The Dow Jones Industrial Average is now trading fractionally higher to 17,618 and the S&P is trading fractionally higher to 2,061.

Immunogen (NASDAQ:IMGN) is currently priced 38.4% above its average consensus analyst price target of $8.73. The stock should find initial support at its 50-day moving average (MA) of $11.20 and further support at its 200-day MA of $9.24.

ImmunoGen, Inc. develops pharmaceuticals, primarily for the treatment of cancer. The Company's tumor activated prodructs deliver chemotherapy specifically to a tumor. ImmunoGen has three drugs in clinical trials and is negotiating to take a drug into phase II trial. These products are being tested for the treatment of colorectal and small-cell lung cancer.

Over the past year, Immunogen has traded in a range of $5.34 to $20.25 and is now at $14.16, 165% above that low. The 200-day and 50-day moving averages have moved 0.40% higher and 2.13% higher over the past week, respectively.

By Robert Cotter
rcotter@fnno.com

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