Wedbush analyst Robert Driscoll raised the firm’s price target on IGM Biosciences to $25 from $20 and keeps an Outperform rating on the shares following Q2 results and a pipeline update. Topline mPFS data from the randomized Phase 2 trial evaluating DR5 agonist aplitabart in combination with FOLFIRI and bevacizumab in 2L mCRC continues to be expected in Q1 2025 and could support a filing for accelerated approval, the firm notes. Further, IGM is evaluating CD20 x CD3 bispecific imvotamab in Phase 1 studies in severe rheumatoid arthritis, severe systemic lupus erythematosus, and idiopathic inflammatory myopathies.
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