IGM Biosciences(IGMS) ZACKS·2024-08-22 17:00Zacks Rating Upgrade - IGM Biosciences upgraded to Zacks Rank 2 (Buy) due to upward trend in earnings estimates, a key driver of stock prices [1] - Zacks rating system tracks consensus EPS estimates from analysts for current and future years to assess earnings outlook [2] - Rating upgrades reflect positive earnings outlook, potentially leading to buying pressure and stock price increase [4] Earnings Estimate Revisions - Changes in earnings estimates strongly correlate with near-term stock price movements, influenced by institutional investors' valuation models [5] - Rising earnings estimates and rating upgrade indicate improvement in IGM Biosciences' underlying business [6] - Empirical research shows strong correlation between earnings estimate revisions and stock movements, making tracking revisions rewarding [7] Zacks Rank System - Zacks Rank system classifies stocks into 5 groups based on 4 earnings estimate factors, with Zacks Rank 1 stocks averaging +25% annual return since 1988 [8] - Zacks system maintains balanced 'buy' and 'sell' ratings, with only top 5% of stocks receiving 'Strong Buy' and next 15% receiving 'Buy' ratings [10] - IGM Biosciences' Zacks Rank 2 places it in top 20% of Zacks-covered stocks, indicating superior earnings estimate revisions and potential for market-beating returns [11] IGM Biosciences Earnings Outlook - IGM Biosciences expected to earn -$2 44 per share for fiscal year ending December 2024, representing 48 2% year-over-year change [9] - Zacks Consensus Estimate for IGM Biosciences increased 1 1% over past three months, reflecting steady upward revisions by analysts [9]