IGM Biosciences (IGMS) Expected to Announce Earnings on Thursday

IGM Biosciences (NASDAQ:IGMS) is expected to be posting its quarterly earnings results before the market opens on Thursday, March 6th. Analysts expect IGM Biosciences to post earnings of ($0.74) per share and revenue of $0.39 million for the quarter.

IGM Biosciences Stock Performance

IGM Biosciences stock opened at $1.26 on Tuesday. The stock’s 50 day simple moving average is $2.79 and its two-hundred day simple moving average is $9.01. The stock has a market cap of $74.92 million, a price-to-earnings ratio of -0.35 and a beta of 0.03. IGM Biosciences has a fifty-two week low of $1.25 and a fifty-two week high of $22.50.

Analysts Set New Price Targets

A number of brokerages have recently commented on IGMS. Guggenheim cut IGM Biosciences from a “buy” rating to a “neutral” rating in a research report on Friday, January 10th. Jefferies Financial Group reiterated a “hold” rating and set a $2.00 target price (down from $48.00) on shares of IGM Biosciences in a research note on Friday, January 10th. Wedbush restated a “neutral” rating and issued a $3.00 price objective (down from $22.00) on shares of IGM Biosciences in a research note on Friday, January 10th. Royal Bank of Canada lowered IGM Biosciences from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $20.00 to $1.50 in a research note on Friday, January 10th. Finally, Truist Financial dropped their target price on shares of IGM Biosciences from $12.00 to $2.00 and set a “hold” rating for the company in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.50.

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.