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Immunogen Makes a Move: Up 2.6%

Published on Mon, 12/31/2012 - 13:25
By Peter Chu

Immunogen (NASDAQ:IMGN) is one of today's biggest movers, up 2.6% to $12.73. The S&P is currently trading 0.9% higher to 1,416 and the Dow Jones Industrial Average is trading 0.7% higher to 13,025.

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 $9.17 to $18.10 and is now at $12.73, 39% above that low. The 200-day and 50-day moving averages have moved 0.09% lower and 1.35% lower over the past week, respectively.

Immunogen (NASDAQ:IMGN) has potential upside of 3.9% based on a current price of $12.73 and analysts' consensus price target of $13.22. Immunogen shares should encounter resistance at the 200-day moving average (MA) of $13.95 and support at the 50-day MA of $12.40.

By Peter Chu
pchu@fnno.com