JP Morgan Downgrades IGM Biosciences to Underweight, Lowers Price Target to $9
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Eric Joseph has downgraded IGM Biosciences from Neutral to Underweight and reduced the price target from $12 to $9.

October 01, 2024 | 1:12 pm
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NEGATIVE IMPACT
JP Morgan has downgraded IGM Biosciences to Underweight and reduced its price target to $9, indicating a negative outlook.
The downgrade from Neutral to Underweight by a major financial institution like JP Morgan suggests a lack of confidence in IGM Biosciences' near-term performance. The reduction in the price target from $12 to $9 further supports a bearish outlook, likely leading to a negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100