IGM Biosciences, Inc. (IGMS) Reports Q3 Loss, Tops Revenue Estimates

Earnings Performance - IGM Biosciences reported a quarterly loss of $1.01 per share, missing the Zacks Consensus Estimate of a loss of $0.82, representing an earnings surprise of -23.17% [1] - The company's loss per share improved slightly from $1.04 a year ago [1] - In the previous quarter, the company posted a loss of $0.79 per share, significantly missing the expected earnings of $0.03 per share, resulting in a surprise of -2,733.33% [1] - Over the last four quarters, the company has surpassed consensus EPS estimates two times [2] Revenue Performance - IGM Biosciences reported revenues of $0.52 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 123.38% [2] - This represents a slight increase from year-ago revenues of $0.51 million [2] - The company has topped consensus revenue estimates just once over the last four quarters [2] Stock Performance and Market Comparison - IGM Biosciences shares have gained approximately 72.9% since the beginning of the year, significantly outperforming the S&P 500's gain of 25.2% [3] - The stock's immediate price movement will largely depend on management's commentary during the earnings call [3] Earnings Outlook and Estimate Revisions - The current consensus EPS estimate for the coming quarter is -$0.75 on $0.17 million in revenues [7] - For the current fiscal year, the consensus EPS estimate is -$3.17 on $2.05 million in revenues [7] - The estimate revisions trend for IGM Biosciences is mixed, resulting in a Zacks Rank 3 (Hold) [6] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [5] Industry Context - IGM Biosciences operates in the Zacks Medical - Biomedical and Genetics industry, which is currently in the top 35% of the 250 plus Zacks industries [8] - The top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8] Peer Comparison - Cyclo Therapeutics, Inc (CYTH), another company in the same industry, is expected to report a quarterly loss of $0.17 per share, representing a year-over-year improvement of +41.4% [9] - Cyclo Therapeutics' revenues are expected to be $0.31 million, down 38% from the year-ago quarter [9]