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IGMS

IGM Biosciences

$17.53 /

-0.125 (-0.71%)

19:42
10/13/19
10/13
19:42
10/13/19
19:42

IGM Biosciences initiated with an Overweight at Piper Jaffray

Piper Jaffray analyst Edward Tenthoff initiated coverage of IGM Biosciences with an Overweight rating and $26 price target. The analyst notes that IGM Biosciences is developing first-in-class Immunoglobulin M antibodies to treat cancer and will file an IND on an anti-Death Receptor 5 IgM antibody next year to treat a broad range of solid and hematologic tumors. Further, Tenthoff highlights that IGM is developing a "rich" preclinical pipeline of IgM antibodies, all of which remain wholly-owned, and estimates the company holds pro forma cash of about $270M to advance and expand its pipeline of IgM antibodies.

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