ImmunoGen shakes off Morgan Stanley downgrade to trade higher

|By:, SA News Editor

ImmunoGen (IMGN +9.8%) bounces back from early losses to trade sharply higher.

Early weakness was likely attributable to Morgan Stanley, where analysts downgraded the shares to Underweight with a $9.50 price target citing trouble with IMGN901.

See also: IMGN signs third licensing agreement with Novartis.