Imago BioSciences, Inc. (NASDAQ:IMGO) Receives Average Recommendation of “Buy” from Analysts

Imago BioSciences, Inc. (NASDAQ:IMGOGet Rating) has been given an average rating of “Buy” by the six brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $34.75.

Several research firms have recently weighed in on IMGO. Zacks Investment Research raised shares of Imago BioSciences from a “sell” rating to a “hold” rating in a research note on Friday, February 11th. HC Wainwright reduced their target price on shares of Imago BioSciences from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, March 25th.

Several hedge funds and other institutional investors have recently bought and sold shares of IMGO. Ameritas Investment Partners Inc. grew its position in Imago BioSciences by 108.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 1,556 shares of the company’s stock worth $30,000 after purchasing an additional 809 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Imago BioSciences by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,188 shares of the company’s stock worth $598,000 after purchasing an additional 1,416 shares during the last quarter. Metropolitan Life Insurance Co NY purchased a new position in Imago BioSciences during the 1st quarter worth $28,000. Citigroup Inc. purchased a new position in Imago BioSciences during the 3rd quarter worth $30,000. Finally, Swiss National Bank grew its position in Imago BioSciences by 7.8% during the 1st quarter. Swiss National Bank now owns 27,800 shares of the company’s stock worth $536,000 after purchasing an additional 2,000 shares during the last quarter. 88.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Imago BioSciences stock opened at $15.14 on Wednesday. The firm has a 50-day simple moving average of $17.72 and a two-hundred day simple moving average of $20.13. The company has a market cap of $510.76 million and a P/E ratio of -1.59. Imago BioSciences has a fifty-two week low of $12.85 and a fifty-two week high of $35.68.

Imago BioSciences (NASDAQ:IMGOGet Rating) last released its quarterly earnings results on Thursday, March 24th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.06). As a group, sell-side analysts expect that Imago BioSciences will post -1.91 earnings per share for the current fiscal year.

About Imago BioSciences (Get Rating)

Imago BioSciences, Inc, a clinical stage biopharmaceutical company, discovers and develops small molecule product candidates that target lysine-specific demethylase 1(LSD1), an enzyme that used in the production of blood cells in the bone marrow. Its lead product candidate is bomedemstat, which is in Phase II clinical trials for the treatment of myeloproliferative neoplasms chronic cancers of the bone marrow, such as myelofibrosis, essential thrombocythemia, and polycythemia vera.

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Analyst Recommendations for Imago BioSciences (NASDAQ:IMGO)

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