Stock in Focus: Immunogen Inc (IMGN)

Company Profile:

ImmunoGen, Inc. engages in the discovery and development of antibody-drug conjugates to improve outcomes for cancer patients. Its product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha, which is in Phase III clinical trial for the treatment of platinum-resistant ovarian cancer; IMGN779 that is in Phase I clinical trial for the treatment of acute myeloid leukemia (AML); and IMGN632, a CD123-targeting ADC that is in Phase I clinical trial for treating AML and blastic plasmacytoid dendritic cell neoplasm. The company was founded in 1980 and is headquartered in Waltham, Massachusetts and currently employs 296 full-time employees.

Recent News:

Susan Altschuller, Chief Financial Officer, and Anna Berkenblit, Chief Medical Officer, will present at the upcoming H.C. Wainwright Virtual Global Investment Conference. The presentation is scheduled for September 14, 2020 at 11am ET.

The company reported revenues for the quarter ended June 30, 2020 were $15.0 million, compared with $15.5 million for the quarter ended June 30, 2019. Revenues in the second quarter of 2020 included $14.1 million in non-cash royalty revenues, compared with $10.4 million for the second quarter of 2019.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

IMGN’s strengths can be seen in its strong growth and robust profitability compared with its peers. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator. The RSI stands at 52.07 with positive bias. We rate Immunogen Inc (IMGN) a STRONG BUY.

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