- Truist has lowered the price target on IGM Biosciences Inc (NASDAQ:IGMS) to $74 from $80.
- The analyst Asthika Goonewardene says that the lower price target reflects the Company's Q4 results, deal financials, and increased cost to IGM Biosciences in its Sanofi SA (NASDAQ:SNY) collaboration deal.
- Related: IGM Biosciences Shares Surge After Oncology / Immunology Pact With Sanofi.
- However, the analyst keeps a Buy rating on the shares and believes that IGM offers ample room for near-term catalysts to increase its value potential significantly.
- Morgan Stanley maintains IGM Biosciences with an Equal-Weight and raises the price target from $25 to $30.
- Earlier today, IGM Biosciences priced its underwritten public offering of 8.7 million shares at $23.00 per share, for gross proceeds of approximately $200.0 million. The offering will close by April 1.
- Price Action: IGMS shares are down 7.87% at $27.17 during the market session on the last check Wednesday.
