ImmunoGen Message Board - Msg: 32516262

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Biotech / Medical : ImmunoGen

IMGN 31.23

0.0%

Feb 26 3:00 PM EDT

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To: Gary Mohilner who wrote (5640)	1/23/2020 2:18:04 PM
From: Wildbiftek	of 5665

There's a nice, almost year-long cup and handle forming here. I think this may settle into a higher range now that there's some clarity for funding into a states side launch alongside the low bar, regulatory clarity for approval we got in December. Who knows if the book runners shorted the stock in december in anticipation of this secondary, but they get to cover some of that in the secondary and the rest of the shorts appear to be squeezed as a result. It looks like JPM who has the only negative rating on the stock (despite their report on IMGN reading quite positively) was the primary bookrunner for their first secondary in June of '18 when they had a buy rating on the stock. This time they were left out: the book runners were Jeffries, Cowen and William Blair whose analysts have outperform ratings on the stock except for Jeffries with a neutral. I think JPM will be forced to change their tune with this fresh infusion of cash along side a relatively clear path to commercialization.

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