What 5 Analyst Ratings Have To Say About IGM Biosciences
Portfolio Pulse from Benzinga Insights
In the last three months, 5 analysts have offered diverse ratings on IGM Biosciences (NASDAQ:IGMS), with sentiments ranging from bullish to bearish. The recent evaluations show a shift towards a more positive outlook, with an average 12-month price target of $17.2, marking a significant increase from the previous $8.00 target. This change reflects a 115.0% increase in the average price target. Analysts from firms like HC Wainwright & Co., RBC Capital, and Wedbush have maintained or raised their ratings, indicating a positive adjustment in their outlook towards IGMS. The company, engaged in developing antibody therapeutics, has shown a remarkable revenue growth rate of 75.0% as of December 31, 2023, despite challenges in profitability and asset utilization.
April 18, 2024 | 6:02 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
IGM Biosciences has received updated analyst ratings with a significantly higher average price target of $17.2, reflecting a positive shift in market sentiment. This comes alongside a report of a 75.0% revenue growth rate, despite challenges in profitability and asset utilization.
The increase in the average price target to $17.2 from $8.00, alongside a 115.0% increase in the target, indicates a strong positive sentiment among analysts. This optimism is likely due to the company's significant revenue growth and advancements in its antibody therapeutics development. Despite the financial challenges highlighted, such as a net margin of -9323.35% and below-average ROE and ROA, the positive adjustments in analyst ratings and price targets suggest a bullish outlook for IGMS in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100