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Immunogen Inc: 52-Week High Recently Eclipsed (IMGN)

By Amy Schwartz

Immunogen Inc (NASDAQ:IMGN) traded today at a new 52-week high of $8.84. Approximately 1.3 million shares have changed hands today, as compared to an average 30-day volume of 1.2 million shares.

ImmunoGen, Inc. develops targeted anticancer therapeutics using its Targeted Antibody Payload (TAP) technology together with its expertise in monoclonal antibodies and tumor biology. The Company offers a TAP compound that uses a tumor-targeting monoclonal antibody to deliver one of ImmunoGen's purpose-developed cancer-killing agents specifically to tumor cells.

Immunogen Inc (NASDAQ:IMGN) is currently priced 10.9% above its average consensus analyst price target of $7.67. Immunogen Inc shares should encounter resistance at the 200-day moving average (MA) of $11.13 and support at the 50-day MA of $8.23.

In the past 52 weeks, Immunogen Inc share prices have been bracketed by a low of $1.51 and a high of $8.84 and are now at $8.60, 470% above that low price. The 200-day and 50-day moving averages have moved 2.25% lower and 1.15% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Immunogen Inc on July 28th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.72. Since that recommendation, shares of Immunogen Inc have risen 26.0%. We continue to monitor IMGN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows immunogen inc

Ticker(s): IMGN