NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) Given Average Recommendation of “Buy” by Brokerages

Shares of NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) have earned an average recommendation of “Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $36.30.

NGM has been the subject of several recent analyst reports. Cowen raised their price objective on shares of NGM Biopharmaceuticals from $20.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, August 9th. B. Riley raised their price objective on shares of NGM Biopharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, September 7th. Raymond James upgraded shares of NGM Biopharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $27.00 to $39.00 in a research note on Monday, September 13th. Piper Sandler raised their price objective on shares of NGM Biopharmaceuticals from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 6th. Finally, Zacks Investment Research upgraded shares of NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, September 16th.

In other news, insider Jin-Long Chen sold 15,000 shares of NGM Biopharmaceuticals stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $26.03, for a total transaction of $390,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 45.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NGM. Price T Rowe Associates Inc. MD purchased a new stake in NGM Biopharmaceuticals in the first quarter valued at approximately $11,031,000. Geode Capital Management LLC grew its holdings in NGM Biopharmaceuticals by 32.6% in the first quarter. Geode Capital Management LLC now owns 458,313 shares of the company’s stock valued at $13,323,000 after purchasing an additional 112,796 shares during the period. Redmile Group LLC purchased a new stake in NGM Biopharmaceuticals in the first quarter valued at approximately $79,995,000. Dimensional Fund Advisors LP grew its holdings in NGM Biopharmaceuticals by 46.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 70,932 shares of the company’s stock valued at $2,150,000 after purchasing an additional 22,500 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NGM Biopharmaceuticals in the first quarter valued at approximately $57,000. Institutional investors and hedge funds own 55.72% of the company’s stock.

Shares of NGM stock traded up $0.19 during mid-day trading on Thursday, hitting $22.60. The stock had a trading volume of 337,668 shares, compared to its average volume of 364,246. NGM Biopharmaceuticals has a fifty-two week low of $14.90 and a fifty-two week high of $32.12. The company’s 50-day simple moving average is $22.16 and its 200-day simple moving average is $23.54. The firm has a market cap of $1.75 billion, a PE ratio of -13.53 and a beta of 2.02.

NGM Biopharmaceuticals (NASDAQ:NGM) last announced its quarterly earnings data on Thursday, August 5th. The company reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.13). NGM Biopharmaceuticals had a negative net margin of 149.51% and a negative return on equity of 36.71%. The company had revenue of $16.77 million during the quarter, compared to analyst estimates of $22.08 million. Research analysts expect that NGM Biopharmaceuticals will post -1.62 earnings per share for the current fiscal year.

NGM Biopharmaceuticals Company Profile

NGM Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of therapeutics for cardio-metabolic, liver, oncologic, and ophthalmic diseases. Its lead product candidate, aldafermin, is designed for the treatment of patients with non-alcoholic steatohepatitis, with liver fibrosis stage 2, 3, or 4.

Read More: Understanding dividend yield and dividend payout ratio

Analyst Recommendations for NGM Biopharmaceuticals (NASDAQ:NGM)

Receive News & Ratings for NGM Biopharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NGM Biopharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.