HC Wainwright & Co. Downgrades Immunogen to Neutral, Raises Price Target to $31.26
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Swayampakula Ramakanth downgraded Immunogen (NASDAQ:IMGN) from Buy to Neutral, while increasing the price target from $28 to $31.26.

November 30, 2023 | 4:13 pm
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NEUTRAL IMPACT
Immunogen was downgraded from Buy to Neutral by HC Wainwright & Co., although the price target was raised from $28 to $31.26.
The downgrade to Neutral suggests that the analyst sees limited upside potential or increased risk in the stock, which could lead to a neutral short-term impact on the stock price. However, the increase in the price target indicates a positive view on the company's valuation, which might balance out the negative sentiment from the downgrade.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100