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

IGM Biosciences (NASDAQ:IGMS) is expected to be releasing its earnings data 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

Shares of IGM Biosciences stock opened at $1.31 on Thursday. The firm has a 50-day simple moving average of $3.12 and a two-hundred day simple moving average of $9.17. IGM Biosciences has a fifty-two week low of $1.26 and a fifty-two week high of $22.50. The company has a market cap of $77.90 million, a P/E ratio of -0.36 and a beta of 0.03.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IGMS shares. Stifel Nicolaus cut IGM Biosciences from a “buy” rating to a “hold” rating and reduced their price target for the stock from $27.00 to $2.50 in a report on Friday, January 10th. Morgan Stanley downgraded IGM Biosciences from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $12.00 to $2.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. raised shares of IGM Biosciences from an “underweight” rating to a “neutral” rating in a research note on Monday, January 13th. Jefferies Financial Group restated a “hold” rating and set a $2.00 price objective (down from $48.00) on shares of IGM Biosciences in a research report on Friday, January 10th. Finally, Wedbush reaffirmed a “neutral” rating and set a $3.00 price objective (down from $22.00) on shares of IGM Biosciences in a report on Friday, January 10th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat.com, IGM Biosciences presently 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.