ImmunoGen upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded ImmunoGen to Overweight from Neutral with a price target of $22, up from $9. Following a physician survey, the analyst believes Elaheres launch in the U.S. is on a solid growth trajectory. The feedback from the survey of 20 U.S. oncologists is “overwhelmingly positive,” signaling continued demand and increase in adoption, the analyst tells investors in a research note. The firm believes the current valuation of ImmunoGen is not fully reflective of the potential from its commercial product.