Truist analyst Asthika Goonewardene lowered the firm’s price target on IGM Biosciences (IGMS) to $2 from $12 and keeps a Hold rating on the shares. The firm is citing the company’s announcement that it is discontinuing both imvotamab and IGM-2644, leaving the company with just the Sanofi (SNY) collaboration as its pipeline, though while this is an unfortunate and disappointing turn of events, Truist believes that it may just be restricted to IGM Biosciences and their platform, the analyst tells investors in a research note.
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