What To Know About HC Wainwright & Co.'s Downgrade of IGM Biosciences
Portfolio Pulse from Benzinga Insights
HC Wainwright & Co. downgraded IGM Biosciences (NASDAQ:IGMS) to Neutral and lowered the price target from $11.00 to $7.00. IGM Biosciences, a biotech company developing IgM antibody therapeutics, has its shares currently trading at $6.48. The new price target suggests an 8.02% upside potential.
December 07, 2023 | 5:00 pm
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NEUTRAL IMPACT
IGM Biosciences was downgraded by HC Wainwright & Co. to Neutral with a reduced price target of $7.00, suggesting a potential upside of 8.02% from the current price.
The downgrade to Neutral reflects a more cautious stance by the analyst, which could lead to a mixed reaction in the market. The reduction in price target, while still above current trading price, indicates a lower expected upside, potentially leading to short-term price stagnation or limited growth.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100