Wedbush Weighs in on Imago BioSciences, Inc.’s Q1 2023 Earnings (NASDAQ:IMGO)

Imago BioSciences, Inc. (NASDAQ:IMGOGet Rating) – Wedbush issued their Q1 2023 EPS estimates for Imago BioSciences in a research note issued to investors on Monday, November 21st. Wedbush analyst R. Driscoll forecasts that the company will post earnings per share of ($0.57) for the quarter. Wedbush currently has a “Neutral” rating and a $36.00 price objective on the stock. The consensus estimate for Imago BioSciences’ current full-year earnings is ($1.93) per share.

A number of other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group cut shares of Imago BioSciences from a “buy” rating to a “hold” rating and lifted their price target for the company from $35.00 to $36.00 in a research report on Monday. Cowen cut shares of Imago BioSciences to a “market perform” rating and set a $36.00 price objective for the company. in a report on Tuesday. Cowen cut shares of Imago BioSciences from an “outperform” rating to a “market perform” rating and set a $36.00 price objective for the company. in a report on Monday. Guggenheim set a $36.00 price objective on shares of Imago BioSciences in a report on Thursday. Finally, HC Wainwright cut shares of Imago BioSciences from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $35.00 to $36.00 in a report on Tuesday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Imago BioSciences presently has an average rating of “Hold” and a consensus target price of $36.00.

Imago BioSciences Price Performance

Shares of IMGO opened at $35.64 on Wednesday. Imago BioSciences has a 1-year low of $11.56 and a 1-year high of $35.75. The stock has a market cap of $1.21 billion, a PE ratio of -19.37 and a beta of 1.94. The firm has a 50-day simple moving average of $17.66 and a two-hundred day simple moving average of $16.24.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IMGO. New York State Common Retirement Fund lifted its stake in Imago BioSciences by 106.6% in the first quarter. New York State Common Retirement Fund now owns 13,391 shares of the company’s stock worth $258,000 after acquiring an additional 6,909 shares during the last quarter. Swiss National Bank lifted its stake in Imago BioSciences by 7.8% in the first quarter. Swiss National Bank now owns 27,800 shares of the company’s stock worth $536,000 after acquiring an additional 2,000 shares during the last quarter. TD Asset Management Inc. lifted its stake in Imago BioSciences by 182.7% in the first quarter. TD Asset Management Inc. now owns 57,873 shares of the company’s stock worth $1,115,000 after acquiring an additional 37,400 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Imago BioSciences by 827.5% in the first quarter. JPMorgan Chase & Co. now owns 62,727 shares of the company’s stock worth $1,208,000 after acquiring an additional 55,964 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Imago BioSciences by 84.6% in the first quarter. Bank of New York Mellon Corp now owns 51,629 shares of the company’s stock worth $995,000 after acquiring an additional 23,661 shares during the last quarter. Hedge funds and other institutional investors own 99.50% of the company’s stock.

Imago BioSciences Company Profile

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Imago BioSciences, Inc, a clinical stage biopharmaceutical company, discovers and develops small molecule product candidates that target lysine-specific demethylase 1(LSD1), an enzyme that used in the production of blood cells in the bone marrow. Its lead product candidate is bomedemstat, which is in Phase II clinical trials for the treatment of myeloproliferative neoplasms chronic cancers of the bone marrow, such as myelofibrosis, essential thrombocythemia, and polycythemia vera.

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Earnings History and Estimates for Imago BioSciences (NASDAQ:IMGO)

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