IGM Biosciences, Inc. (NASDAQ:IGMS) Receives $17.75 Consensus PT from Analysts

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

Several analysts have recently commented on IGMS shares. Wedbush lowered their target price on shares of IGM Biosciences from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut IGM Biosciences from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $12.00 to $9.00 in a report on Tuesday, October 1st. Guggenheim cut 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 note on Tuesday, October 1st. Stifel Nicolaus boosted their price objective on shares of IGM Biosciences from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada increased their price target on shares of IGM Biosciences from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th.

IGM Biosciences Stock Performance

IGMS stock opened at $7.48 on Friday. The company has a market capitalization of $444.79 million, a PE ratio of -2.05 and a beta of 0.08. The company’s 50-day simple moving average is $12.48 and its 200 day simple moving average is $11.12. IGM Biosciences has a 52 week low of $6.17 and a 52 week high of $22.50.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in shares of IGM Biosciences by 8.9% in the second quarter. Bank of New York Mellon Corp now owns 53,980 shares of the company’s stock valued at $371,000 after buying an additional 4,427 shares during the last quarter. Rhumbline Advisers grew its position in IGM Biosciences by 13.1% in the 2nd quarter. Rhumbline Advisers now owns 22,726 shares of the company’s stock valued at $156,000 after acquiring an additional 2,635 shares in the last quarter. TD Asset Management Inc increased its stake in IGM Biosciences by 3.4% during the 2nd quarter. TD Asset Management Inc now owns 164,472 shares of the company’s stock worth $1,130,000 after buying an additional 5,350 shares during the period. Quest Partners LLC raised its stake in shares of IGM Biosciences by 71.4% in the second quarter. Quest Partners LLC now owns 11,913 shares of the company’s stock valued at $82,000 after acquiring an additional 4,961 shares in the last quarter. Finally, Bruce & Co. Inc. increased its position in shares of IGM Biosciences by 53.8% in the 2nd quarter. Bruce & Co. Inc. now owns 100,000 shares of the company’s stock valued at $687,000 after purchasing an additional 35,000 shares during the last quarter. 42.79% of the stock is owned by institutional investors and hedge funds.

About IGM Biosciences

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.