Fintel reports that on December 6, 2024, BMO Capital initiated coverage of IGM Biosciences (NasdaqGS:IGMS) with a Outperform recommendation.
Analyst Price Forecast Suggests 111.33% Upside
As of December 3, 2024, the average one-year price target for IGM Biosciences is $19.99/share. The forecasts range from a low of $9.09 to a high of $50.40. The average price target represents an increase of 111.33% from its latest reported closing price of $9.46 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for IGM Biosciences is 21MM, an increase of 610.49%. The projected annual non-GAAP EPS is -5.46.
What is the Fund Sentiment?
There are 206 funds or institutions reporting positions in IGM Biosciences. This is an increase of 3 owner(s) or 1.48% in the last quarter. Average portfolio weight of all funds dedicated to IGMS is 0.06%, an increase of 80.93%. Total shares owned by institutions decreased in the last three months by 0.30% to 22,732K shares. 
The put/call ratio of IGMS is 0.71, indicating a bullish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 4,092K shares representing 12.01% ownership of the company. In its prior filing, the firm reported owning 4,090K shares , representing an increase of 0.05%. The firm increased its portfolio allocation in IGMS by 95.35% over the last quarter.
Price T Rowe Associates holds 4,014K shares representing 11.78% ownership of the company. In its prior filing, the firm reported owning 4,075K shares , representing a decrease of 1.52%. The firm increased its portfolio allocation in IGMS by 13.93% over the last quarter.
Siren, L.L.C. holds 3,330K shares representing 9.77% ownership of the company.
Redmile Group holds 3,072K shares representing 9.02% ownership of the company. No change in the last quarter.
PRNHX - T. Rowe Price New Horizons Fund holds 1,966K shares representing 5.77% ownership of the company. In its prior filing, the firm reported owning 1,973K shares , representing a decrease of 0.36%. The firm increased its portfolio allocation in IGMS by 144.49% over the last quarter.
IGM Biosciences Background Information
(This description is provided by the company.)
Headquartered in Mountain View, California, IGM Biosciences is a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies. Since 2010, IGM Biosciences has worked to overcome the manufacturing and protein engineering hurdles that have limited the therapeutic use of IgM antibodies. Through its efforts, IGM Biosciences has created a proprietary IgM technology platform for the development of IgM antibodies for those clinical indications where their inherent properties may provide advantages as compared to IgG antibodies.
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