Dain Rauscher Wessels Announces Investment Opinion On Immunogen.Business Editors NOTE TO EDITORS: The following is an investment opinion issued by Dain Rauscher Wessels MINNEAPOLIS--(BUSINESS WIRE)--Feb. 2, 2001 Dain Rauscher Wessels Initiates Coverage of Immunogen With a Buy Rating Dain Rauscher Wessels equity analyst Andrew K Andrew K is a Greek DJ and record producer. He has released over 30 records in a variety of well-respected labels including Armada, Mo-Do, Pure Substance, Vapour, Babylon Records and more. As a DJ, he has appeared in many countries across the globe. . Milne today initiated coverage of ImmunoGen Inc. (NYSE NYSE See: New York Stock Exchange : IMGN), $22.06, with a Buy-Speculative Risk rating. He has a 12-month price target of $49. ImmunoGen, a biopharmaceutical company based in Cambridge, Mass., boasts a proprietary technology platform for the production of novel antibody-based therapeutics, referred to as Tumor Activated Prodrugs (TAPs), for the treatment of cancer. ImmunoGen's lead compound, huC242-DMI, is currently in Phase I/II clinical trials for the treatment of colorectal, pancreatic and non-small cell lung cancers Lung Cancer, Non-Small Cell Definition Non-small cell lung cancer (NSCLC) is a disease in which the cells of the lung tissues grow uncontrollably and form tumors. Description There are two kinds of lung cancers, primary and secondary. . "We have modeled a 2005 launch for huC242-DMI and estimate that peak sales for an approved formulation may approach $500-$750 million," Milne said in a report. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Milne, ImmunoGen has signed an agreement with GlaxoSmithKline to jointly develop and commercialize huC242-DMI. "We believe this agreement adds significant credibility to ImmunoGen's technology and will allow the company to leverage its business model by shifting ongoing development risks to GlaxoSmithKline while solidifying meaningful royalties on potential commercialized sales," Milne said. Institutional investors interested in receiving more information should contact their Dain Rauscher Wessels salesperson. Media interested in receiving Milne's research report should call (612) 371-2239. The Dain Rauscher Wessels division includes equity research, equity trading In finance, equity trading is the buying and selling of company stock shares. Shares in large publicly-traded companies are bought and sold through one of the major stock exchanges, such as the New York Stock Exchange, London Stock Exchange or Tokyo Stock Exchange, which serve as , institutional equity sales and corporate finance. The division's 40 analysts focus on five industries: consumer, energy, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , health care and technology. Currently, the analysts follow more than 400 companies. The division, which employs 425 people, has offices in Atlanta; Austin, Texas; Boston; Chicago; Dallas; Houston; Menlo Park, Calif.; Minneapolis; New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ; Paris; San Francisco; Seattle; and Tel Aviv, Israel(a). Dain Rauscher Corporation, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. (NYSE: RY), is one of the nation's largest full-service securities firms with 1,200 investment executives and 3,800 employees. The company's broker-dealer, Dain Rauscher Incorporated, serves individual investors and small business owners through offices predominantly in the western half of the United States, and capital markets and correspondent clients in select U.S. and international markets. Founded in 1909, Dain Rauscher Incorporated is a member of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and other major securities exchanges, as well as the Securities Investor Protection Corp. The company's headquarters are located at Dain Rauscher Plaza, 60 S. Sixth St., in Minneapolis. Dain Rauscher incorporated makes a market in ImmunoGen Inc. and may act as principal with regard to sales or purchases of this security. Additional information on the securities mentioned is available on request. This does not purport to be a complete statement of all material facts related to any company, industry, or security mentioned. The information provided, while not guaranteed as to accuracy or completeness, has been obtained from sources believed to be reliable. The opinions expressed reflect our judgment at this time and are subject to change without notice and may or may not be updated. DRI See Digital Research. , its officers, directors, affiliates, and/or employees (including the authors of this report) may from time to time have a long or short position in publicly or privately issued securities of companies mentioned or derivatives thereof and may sell or buy such securities for their own or related accounts. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which said offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. (a) Strategic alliance with Tamir Fishman & Co. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion