Brokerages Set NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) Price Target at $36.30

Shares of NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) have been given a consensus recommendation of “Buy” by the eleven research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $36.30.

Several equities analysts have issued reports on the stock. Cowen upped their target price 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. Piper Sandler upped their price target on shares of NGM Biopharmaceuticals from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 6th. Zacks Investment Research raised shares of NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, September 16th. Raymond James raised shares of NGM Biopharmaceuticals from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $27.00 to $39.00 in a report on Monday, September 13th. Finally, B. Riley increased their target price on shares of NGM Biopharmaceuticals from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, September 7th.

NGM traded up $0.40 during midday trading on Monday, hitting $20.29. 9,223 shares of the company traded hands, compared to its average volume of 369,057. The firm has a market capitalization of $1.57 billion, a PE ratio of -11.91 and a beta of 2.02. The company’s 50-day moving average is $22.10 and its 200 day moving average is $22.67. NGM Biopharmaceuticals has a 52 week low of $14.90 and a 52 week high of $32.12.

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

In related news, SVP Hsiao D. Lieu sold 2,000 shares of NGM Biopharmaceuticals stock in a transaction dated Tuesday, October 5th. The stock was sold at an average price of $22.00, for a total transaction of $44,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jin-Long Chen sold 15,000 shares of NGM Biopharmaceuticals stock in a transaction dated Monday, October 11th. The stock was sold at an average price of $20.41, for a total value of $306,150.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,000 shares of company stock worth $1,107,500. Insiders own 45.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its stake in shares of NGM Biopharmaceuticals by 174.2% in the 2nd quarter. Wells Fargo & Company MN now owns 43,332 shares of the company’s stock valued at $854,000 after purchasing an additional 27,531 shares during the last quarter. Metropolitan Life Insurance Co NY increased its holdings in NGM Biopharmaceuticals by 115,612.5% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 9,257 shares of the company’s stock worth $183,000 after purchasing an additional 9,249 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of NGM Biopharmaceuticals by 14.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 433,858 shares of the company’s stock valued at $8,556,000 after acquiring an additional 54,395 shares during the last quarter. BVF Inc. IL purchased a new position in shares of NGM Biopharmaceuticals in the 2nd quarter valued at about $18,833,000. Finally, Boxer Capital LLC purchased a new position in NGM Biopharmaceuticals during the 2nd quarter worth approximately $9,860,000. 55.72% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for NGM Biopharmaceuticals (NASDAQ:NGM)

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