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IMGN

Immunogen (NASDAQ: IMGN) Surge on News of Takeover by AbbVieAbbVie (NYSE:ABBV) announced Thursday that it will acquire Immunogen (IMGN) and its flagship cancer therapy, Elahere, in a deal worth $31.26 per share. The transaction values ImmunoGen (NASDAQ:IMGN) at a total equity value of approximately $10.1 billion and is expected to close in the middle of 2024. Elahere is considered a "first-in-class antibody-drug conjugate (ADC) approved for platinum-resistant ovarian cancer (PROC)." ABBV believes the deal accelerates its commercial and clinical presence in the solid tumor space. "The acquisition of ImmunoGen demonstrates our commitment to deliver on our long-term growth strategy and enables AbbVie to further diversify our oncology pipeline across solid tumors and hematologic malignancies," said Richard Gonzalez, chairman and chief executive officer of AbbVie. "Together, AbbVie and ImmunoGen have the potential to transform the standard of care for people living with cancer." ImmunoGen shares have rocketed 83% to over $29 per share on the news. "We see the deal as a positive for biotech as it reflects our view that quality oncology assets are of high interest to large pharma and merit a premium". Price Momentum IMGN is trading near the top of its 52-week range and above its 200-day simple moving average. What does this mean? Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
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by DEXWireNews
IMGN Biotech Post Earnings IMGN had great earnings the last days of April and has been trending up ever since. It is riding the upper Bollinger band consistently in this past wee. The volume spike after earnings has subsided but ongoing volume is at about 5X the moving average of early April and March. Increased volume supports price momentum. The volume spike here is obvious and significant. IMGN announced a public offering. I see this as a positive. It is primed for increasing growth but needs the fuel. Interest rates are high. Stock offering will raise cash and all shareholders will be rewarded. IMGN is resting and consolidated in a narrow range during this public offering. See also the favorable article from IBD linked below. I see IMGN as a solid swing long until the next earnings. I will watch for an uncoiling upon completion of the offering with resumption of momentum moving forward.
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by AwesomeAvani
ImmunoGen Inc. (IMGN) double-top indicates a short opportunityI was scanning stocks for chart patterns and came across Immunogen Inc. (IMGN) with a double-top already formed. IMGN has been trading in a downward channel since February 2021 and shows no sign of stopping yet. The price has reached a major support level of about 4.97, with only one major breach back in May. On three occasions it has dipped below slightly to reach 4.48 - 4.26. Due to the major double-top chart pattern, I expect the 4.97 support level to be breached again and the price will likely reach 4.48 in the next several days, and possibly 3.48 sometime in January. Of course, the price could bounce and follow the support line for a bit longer, or even continue higher. I'm betting on a move lower as the pattern completes its symmetrical shape. Disclaimer: I am not a financial advisor, and the above statements are not investment advice. My comments are only intended for educational purposes. You are solely responsible for your own trading decisions.
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by cdnbuzzard
IMGN 25% and 37% targets: "Risky" penny stock$IMGN can be categorized as penny stock because its price per share is below $10 Given this fact this trade idea should be considered risky. But nothing in life that is worthy is free of risk, right? Since this is a volatile stock I would strongly suggest you should have a proper plan to execute it as a skilled surgeon In particular, you should set your Stop loss as tight as you are able to endure loss We have two targets ahead, 25% and 37%, the later probably higher because momentum building by retail traders Good luck
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by roosgart
IMGN - DAILY CHART Hi, today we are going to talk about Immunogen and its current landscape. Immunogen is poised to receive increasing attention from the market after the announcement that it will start new trials based on an FDA advice that a new single-arm study in ovarian cancer could support accelerated approval for Mirvetuximab Soravtansine. We must remember that statistics show that in 2019, about 22,530 women* were expected to be diagnosticated with ovarian cancer, and is expected a mortality of 13,980 women in the same period, which shows the potential growth of this product once hit the market (after the FDA approval), depending on the outcome Immunogen can back to see shining days once more. Thank you for reading and leave your comments if you like. To have access to our exclusive contents, join the Traders Heaven today! Link Below. Disclaimer: All content of Golden Dragon has only educational and informational purposes, and never should be used or take it as financial advice. *Source: American Cancer Society
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by Igor-Silva