RBC Capital raised the firm’s price target on IGM Biosciences to $9 from $8 but keeps a Sector Perform rating on the shares after the company reported pipeline prioritization and reduction in 22% of the workforce that would extend cash runway into FY26. Focusing on the most mature and highest probability of success assets in the pipeline “makes sense”, though the firm remains at neutral pending greater de-risking from the lead pipeline programs, the analyst tells investors in a research note.
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