Truist lowered the firm’s price target on IGM Biosciences to $24 from $25 and keeps a Buy rating on the shares. The firm thinks IGM Biosciences will have an “active” Q4 and first half of 2025 with trial recruitment for both the oncology and autoimmune sides of the business progressing well and multiple clinical read-outs, the analyst tells investors in a research note. The firm is not yet modeling the autoimmune opportunity, but sees potential for a bispecific to be a treatment option in certain indications, and thinks IGM will be ahead of the competition.
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