IGM Biosciences (IGMS) Receives a Buy from H.C. Wainwright
In a report released today, Robert Burns from H.C. Wainwright reiterated a Buy rating on IGM Biosciences (IGMS), with a price target of $88.00. The company’s shares closed last Tuesday at $91.14.
According to TipRanks.com, Burns is a 5-star analyst with an average return of 48.9% and a 73.1% success rate. Burns covers the Healthcare sector, focusing on stocks such as Forma Therapeutics Holdings, Turning Point Therapeutics, and Black Diamond Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for IGM Biosciences with a $88.75 average price target.
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Based on IGM Biosciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $20.27 million. In comparison, last year the company had a GAAP net loss of $10.17 million.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IGMS in relation to earlier this year.
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IGM Biosciences, Inc. operates as a biotechnology company which develops antibodies for the treatment of cancer. It offers IgM platform to expand upon the inherent properties of IgM antibodies and to allow for the rapid development of engineered therapeutic antibodies. The company was founded in 2010 and is headquartered in Mountain View, CA.