ImmunoGen price target raised to $27 from $26 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on ImmunoGen (IMGN) to $27 from $26 and keeps a Buy rating on the shares after the company announced an exclusive partnership with Takeda Pharmaceutical Co (TAK) for the development and commercialization of Elahere in Japan. The analyst believes the agreement is a validation for the drug and could potentially attract suitors for European commercialization.