Shares of IGM Biosciences (IGMS) surged 5.53% on November 11th, following bullish actions from Wall Street analysts. The biopharmaceutical company's stock gained momentum after RBC Capital and Stifel both reiterated their "Buy" ratings and increased their price targets for the stock.
RBC Capital analyst Brian Abrahams maintained a "Buy" rating on IGM Biosciences, citing the company's promising pipeline and potential for future growth. Abrahams did not disclose a specific price target in the report released on November 8th.
Meanwhile, Stifel analyst raised the firm's price target on IGM Biosciences to $27 from $25, while keeping a "Buy" rating. The firm expressed confidence in the company's management and their plans for advancing the development of their oncology treatments.
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