H.C. Wainwright downgraded ImmunoGen (IMGN) to Neutral from Buy with a $31.26 price target after the company agreed to be acquired by AbbVie (ABBV) for $31.26 per share in cash. The firm notes that ImmunoGen had been one of its top picks for 2023.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on IMGN:
- AbbVie Stock (NYSE:ABBV): Bet on a Smart Drugmaker and Dealmaker
- ImmunoGen downgraded to Hold from Buy at Truist
- M & A News: AbbVie’s (NYSE:ABBV) $10.1B Gamble on ImmunoGen Sends Shares Soaring
- AbbVie to Acquire ImmunoGen, including its Flagship Cancer Therapy ELAHERE® (mirvetuximab soravtansine-gynx), Expanding Solid Tumor Portfolio
- AbbVie to acquire ImmunoGen for $31.26 per share in cash, or EV $10.1B