IGM Biosciences Q1 EPS $(0.83), Inline, Sales $497.00K Miss $760.00K Estimate
Portfolio Pulse from Benzinga Newsdesk
IGM Biosciences (NASDAQ:IGMS) reported Q1 EPS of $(0.83), matching analyst estimates but showing a 37.59% improvement from last year's $(1.33) per share. However, their Q1 sales of $497K fell short of the expected $760K, marking a 34.61% miss and a 4.79% decrease from the previous year's $522K.
May 08, 2024 | 10:11 pm
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IGM Biosciences reported a Q1 EPS of $(0.83), in line with estimates but better than last year's $(1.33). Sales of $497K missed estimates by 34.61%, a slight decrease from last year's $522K.
The EPS meeting expectations indicates a positive direction in reducing losses, which could be seen as a positive signal. However, the significant miss in sales forecasts and the year-over-year decrease in revenue are likely to negatively impact investor sentiment in the short term, suggesting a potential decrease in stock price.
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IMPORTANCE 90
RELEVANCE 100