IGM Biosciences faces analyst downgrades to a "Hold" rating, despite ongoing drug development.

IGM Biosciences (IGMS) saw multiple downgrades from analysts, resulting in a consensus "Hold" rating with a target price of $5.50. BMO Capital Markets reduced its rating to "Market Perform," with a target price of $2.00, down from $21.00. Despite these downgrades, the company continues developing Immunoglobulin M antibodies for cancer and autoimmune diseases. Recent earnings showed a negative return on equity and net margin, though institutional investors have increased their stakes.

2 months ago
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