Baird analyst Joel Beatty lowered the firm’s price target on IGM Biosciences to $17 from $31 and keeps an Outperform rating on the shares. The firm continues to see potential for DR5 agonist IGM-8444 in second-line metastatic colorectal cancer. They view the company as the most attractive to investors with a multi-year time horizon, because randomized PFS data for IGM-8444 in colorectal cancer is not expected until YE24.
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