IGM Biosciences (IGMS) Projected to Post Quarterly Earnings on Thursday

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

IGM Biosciences Trading Up 5.6 %

IGMS opened at $1.33 on Wednesday. The company has a 50 day moving average of $2.69 and a 200 day moving average of $8.96. The company has a market cap of $79.09 million, a PE ratio of -0.37 and a beta of 0.03. IGM Biosciences has a 12 month low of $1.19 and a 12 month high of $22.50.

Wall Street Analysts Forecast Growth

IGMS has been the subject of several analyst reports. Royal Bank of Canada downgraded shares of IGM Biosciences from an “outperform” rating to a “sector perform” rating and cut their price objective 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 objective for the stock 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 target (down from $21.00) on shares of IGM Biosciences in a report on Friday, January 10th. Truist Financial cut their price target 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. Finally, Wedbush reissued a “neutral” rating and issued a $3.00 price target (down from $22.00) on shares of IGM Biosciences in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.