7 Great Biotech Stocks That Don’t Depend on a Coronavirus Cure - 1 of 7

#1 - ImmunoGen (NASDAQ:IMGN)

ImmunoGen (NASDAQ:IMGN) has effectively managed its balance sheet despite not yet having brought a product to market. The company has done this by leveraging its technology in a variety of partnerships with a broad range of biopharmaceutical companies, including Jazz Pharmaceuticals (NASDAQ:JAZZ), Amgen (NASDAQ:AMGN), Sanofi (NASDAQ:SNY), and Bayer (OTCMKTS:BAYRY).

More than likely, IMGN stock is trading flat for the year because investors are focusing on biotechs with direct exposure to the novel coronavirus's treatment. However, you can see the company has gained over 130% in the last 12 months when you back out a little bit. That’s a gain that investors won’t ignore once they start looking.

And ImmunoGen does have its own pipeline of attractive candidates. The company is specifically working on developing antibody-drug conjugate (ABC) therapeutics as a form of cancer treatment.  ImmunoGen has two candidates in Phase 3 trials and another two candidates in Phase 2 trials.

About ImmunoGen

ImmunoGen, Inc, a commercial-stage biotechnology company, focuses on developing and commercializing the antibody-drug conjugates (ADCs) for cancer patients. The company's product candidates include mirvetuximab soravtansine, an ADC targeting folate-receptor alpha (FRa), for the treatment of platinum-resistant ovarian cancer; and a cell-surface protein expressed in various epithelial tumors, including ovarian, endometrial, and non-small-cell lung cancers, as well as Pivekimab sunirine, a CD123-targeting ADC that is in Phase II clinical trial for treating acute myeloid leukemia and blastic plasmacytoid dendritic cell neoplasm. Read More 

Current Price

$31.23

Consensus Rating

Hold

Ratings Breakdown

3 Buy Ratings, 9 Hold Ratings, 0 Sell Ratings.

Consensus Price Target

$25.77 (17.5% Downside)