IGM Biosciences, Inc. (NASDAQ:IGMS) Receives Average Recommendation of “Moderate Buy” from Brokerages

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

IGMS has been the topic of several recent research reports. Royal Bank of Canada upped their price target on shares of IGM Biosciences from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Wedbush reduced their target price on IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. downgraded IGM Biosciences from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $12.00 to $9.00 in a research report on Tuesday, October 1st. Stifel Nicolaus boosted their price target on IGM Biosciences from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, HC Wainwright decreased their price objective on IGM Biosciences from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th.

Hedge Funds Weigh In On IGM Biosciences

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in IGM Biosciences by 48.4% in the 3rd quarter. Barclays PLC now owns 21,554 shares of the company’s stock valued at $356,000 after buying an additional 7,027 shares during the period. Geode Capital Management LLC grew its holdings in IGM Biosciences by 7.6% in the third quarter. Geode Capital Management LLC now owns 395,799 shares of the company’s stock valued at $6,548,000 after purchasing an additional 28,118 shares during the period. Wellington Management Group LLP increased its position in IGM Biosciences by 42.6% during the third quarter. Wellington Management Group LLP now owns 98,339 shares of the company’s stock worth $1,627,000 after purchasing an additional 29,374 shares during the last quarter. State Street Corp increased its position in IGM Biosciences by 2.7% during the third quarter. State Street Corp now owns 469,790 shares of the company’s stock worth $7,770,000 after purchasing an additional 12,174 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in IGM Biosciences during the third quarter worth approximately $149,000. 42.79% of the stock is currently owned by institutional investors and hedge funds.

IGM Biosciences Stock Performance

IGMS opened at $7.17 on Friday. The company has a market cap of $426.36 million, a price-to-earnings ratio of -1.97 and a beta of 0.08. IGM Biosciences has a one year low of $5.90 and a one year high of $22.50. The business’s fifty day moving average is $12.75 and its two-hundred day moving average is $11.13.

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

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.