Brokerages Set IGM Biosciences, Inc. (NASDAQ:IGMS) Target Price at $17.75

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $17.75.

Several research firms have recently issued reports on IGMS. Guggenheim dropped their price objective on shares of IGM Biosciences from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Wedbush lowered their price target on IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Truist Financial cut IGM Biosciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $24.00 to $12.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. lowered IGM Biosciences from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $12.00 to $9.00 in a research note on Tuesday, October 1st. Finally, HC Wainwright decreased their price target on IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, September 5th.

IGM Biosciences Stock Up 1.1 %

NASDAQ:IGMS opened at $7.48 on Friday. IGM Biosciences has a fifty-two week low of $6.17 and a fifty-two week high of $22.50. The company has a market cap of $444.79 million, a P/E ratio of -2.05 and a beta of 0.08. The firm’s 50 day moving average is $12.48 and its two-hundred day moving average is $11.12.

IGM Biosciences (NASDAQ:IGMS) last announced its quarterly earnings results on Friday, November 8th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.19). IGM Biosciences had a negative return on equity of 155.42% and a negative net margin of 7,534.03%. The firm had revenue of $0.52 million for the quarter, compared to analyst estimates of $0.23 million. Research analysts forecast that IGM Biosciences will post -3.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IGMS. Quest Partners LLC grew its stake in IGM Biosciences by 71.4% during the second quarter. Quest Partners LLC now owns 11,913 shares of the company’s stock worth $82,000 after buying an additional 4,961 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of IGM Biosciences in the 2nd quarter valued at approximately $84,000. XTX Topco Ltd grew its holdings in shares of IGM Biosciences by 70.9% in the 2nd quarter. XTX Topco Ltd now owns 20,408 shares of the company’s stock valued at $140,000 after buying an additional 8,467 shares during the period. MetLife Investment Management LLC bought a new position in shares of IGM Biosciences during the 3rd quarter valued at about $149,000. Finally, Rhumbline Advisers raised its holdings in shares of IGM Biosciences by 13.1% during the second quarter. Rhumbline Advisers now owns 22,726 shares of the company’s stock worth $156,000 after acquiring an additional 2,635 shares during the period. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Company Profile

IGM Biosciences, Inc, a clinical-stage biotechnology company, develops Immunoglobulin M (IgM) antibodies for the treatment of cancer and autoimmune and inflammatory diseases. It develops Aplitabart, a Death Receptor 5 Agonist IgM antibody for the treatment of colorectal cancer; imvotamab, a CD20 x CD3 bispecific IgM antibody to treat myositis, as well as for the treatment of systemic lupus erythematosus and rheumatoid arthritis that is Phase Ib clinical trial; and IGM-2644, a bispecific T cell engaging IgM antibody targeting CD38 and CD3 proteins for the treatment of autoimmune diseases.