IGM Biosciences, Inc. (NASDAQ:IGMS) Receives $5.50 Consensus Price Target from Analysts

Shares of IGM Biosciences, Inc. (NASDAQ:IGMS) have received a consensus recommendation of “Reduce” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $5.50.

A number of analysts recently issued reports on the company. Guggenheim downgraded IGM Biosciences from a “buy” rating to a “neutral” rating in a research report on Friday, January 10th. Royal Bank of Canada lowered shares of IGM Biosciences from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $20.00 to $1.50 in a report on Friday, January 10th. Stifel Nicolaus downgraded shares of IGM Biosciences from a “buy” rating to a “hold” rating and cut their price target for the company from $27.00 to $2.50 in a report on Friday, January 10th. BMO Capital Markets reissued a “market perform” rating and issued a $2.00 price objective (down from $21.00) on shares of IGM Biosciences in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. upgraded IGM Biosciences from an “underweight” rating to a “neutral” rating in a research report on Monday, January 13th.

Institutional Trading of IGM Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. purchased a new position in IGM Biosciences during the 4th quarter worth $44,000. AQR Capital Management LLC purchased a new position in shares of IGM Biosciences during the second quarter valued at $84,000. MetLife Investment Management LLC bought a new stake in shares of IGM Biosciences in the third quarter valued at about $149,000. Point72 Asset Management L.P. bought a new stake in shares of IGM Biosciences in the second quarter valued at about $187,000. Finally, Barclays PLC lifted its stake in IGM Biosciences by 48.4% in the third quarter. Barclays PLC now owns 21,554 shares of the company’s stock worth $356,000 after acquiring an additional 7,027 shares during the period. Institutional investors own 42.79% of the company’s stock.

IGM Biosciences Trading Down 5.3 %

IGMS opened at $1.42 on Monday. The stock has a 50-day moving average of $5.11 and a 200 day moving average of $9.96. IGM Biosciences has a 12 month low of $1.37 and a 12 month high of $22.50. The firm has a market cap of $84.43 million, a P/E ratio of -0.39 and a beta of 0.03.

IGM Biosciences (NASDAQ:IGMS) last posted its quarterly earnings data 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 company had revenue of $0.52 million during the quarter, compared to the consensus estimate of $0.23 million. IGM Biosciences had a negative net margin of 7,534.03% and a negative return on equity of 155.42%. On average, research analysts forecast that IGM Biosciences will post -3.35 earnings per share 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.