IGM Biosciences price target raised to $9.50 from $8 at BofA

BofA analyst Greg Harrison raised the firm’s price target on IGM Biosciences to $9.50 from $8 and keeps a Neutral rating on the shares after the company provided a “positive” corporate update at a recent healthcare conference. The firm sees recent strength in the stock as likely due to the addition of well-known investors and looks for derisking data updates to continue to re-evaluate the company, the analyst tells investors.