IGM Biosciences (NASDAQ:IGMS) had its price target upped by analysts at Stifel Nicolaus from $67.00 to $95.00 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 39.71% from the company’s previous close.
IGMS has been the subject of several other reports. SunTrust Banks began coverage on shares of IGM Biosciences in a report on Thursday, May 28th. They set a “buy” rating and a $86.00 price target for the company. Wolfe Research began coverage on shares of IGM Biosciences in a report on Thursday, March 12th. They set an “outperform” rating for the company. ValuEngine upgraded shares of IGM Biosciences from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Wedbush initiated coverage on shares of IGM Biosciences in a report on Tuesday, April 21st. They set an “outperform” rating for the company. Finally, Piper Sandler boosted their price objective on shares of IGM Biosciences from $53.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $58.14.
Shares of IGMS opened at $68.00 on Tuesday. IGM Biosciences has a one year low of $16.10 and a one year high of $80.55. The company has a market cap of $2.11 billion and a P/E ratio of -14.15. The company has a debt-to-equity ratio of 0.05, a current ratio of 28.17 and a quick ratio of 28.17. The firm has a 50 day simple moving average of $62.52 and a two-hundred day simple moving average of $50.32.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE bought a new stake in IGM Biosciences during the fourth quarter valued at $29,000. Citigroup Inc. bought a new stake in IGM Biosciences during the fourth quarter valued at $38,000. Victory Capital Management Inc. bought a new stake in IGM Biosciences during the fourth quarter valued at $42,000. Exane Derivatives bought a new stake in IGM Biosciences during the first quarter valued at $92,000. Finally, SG Americas Securities LLC bought a new stake in IGM Biosciences during the first quarter valued at $106,000. 43.30% of the stock is currently owned by institutional investors and hedge funds.
About IGM Biosciences
IGM Biosciences, Inc, a biotechnology company, engages in the research and development of engineered Immunoglobulin M (IgM) antibodies for the treatment of cancer patients. The company's lead product candidate is IGM-2323, a bispecific T cell engaging IgM antibody that completed preclinical trials for targeting CD20 and CD3 proteins for the treatment of relapsed/refractory B cell Non-Hodgkin's lymphoma.
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