NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) Receives Consensus Recommendation of “Buy” from Analysts

NGM Biopharmaceuticals, Inc. (NASDAQ:NGMGet Rating) has been assigned a consensus rating of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $31.20.

NGM has been the topic of a number of research reports. Piper Sandler raised their price target on NGM Biopharmaceuticals from $30.00 to $32.00 in a research note on Friday, January 7th. Zacks Investment Research upgraded NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, March 9th. Finally, Raymond James downgraded NGM Biopharmaceuticals from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, March 2nd.

Shares of NGM opened at $13.45 on Friday. The business’s fifty day simple moving average is $15.34 and its two-hundred day simple moving average is $16.98. NGM Biopharmaceuticals has a 12 month low of $13.29 and a 12 month high of $30.13. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -8.62 and a beta of 1.78.

NGM Biopharmaceuticals (NASDAQ:NGMGet Rating) last issued its earnings results on Tuesday, March 1st. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.01. NGM Biopharmaceuticals had a negative return on equity of 32.92% and a negative net margin of 154.51%. Equities analysts expect that NGM Biopharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in NGM Biopharmaceuticals during the fourth quarter valued at $30,000. Macquarie Group Ltd. purchased a new position in NGM Biopharmaceuticals during the third quarter valued at $43,000. Exane Derivatives lifted its position in NGM Biopharmaceuticals by 2,163.4% during the fourth quarter. Exane Derivatives now owns 2,105 shares of the company’s stock valued at $37,000 after purchasing an additional 2,012 shares in the last quarter. Royal Bank of Canada lifted its position in NGM Biopharmaceuticals by 30.7% during the second quarter. Royal Bank of Canada now owns 2,157 shares of the company’s stock valued at $43,000 after purchasing an additional 507 shares in the last quarter. Finally, Ensign Peak Advisors Inc bought a new stake in NGM Biopharmaceuticals during the fourth quarter valued at about $58,000. Institutional investors own 58.50% of the company’s stock.

About NGM Biopharmaceuticals (Get Rating)

NGM Biopharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of novel therapeutics to treat liver and metabolic diseases, retinal diseases, and cancer. The company's product candidates include Aldafermin, an engineered analog of human hormone fibroblast growth factor 19, which is in Phase IIb clinical trials for the treatment of non-alcoholic steatohepatitis (NASH); and MK-3655, an agonistic antibody that activates fibroblast growth factor receptor 1c-beta-klotho, which is in Phase IIb clinical trials for use in the treatment of type 2 diabetes and NASH.

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Analyst Recommendations for NGM Biopharmaceuticals (NASDAQ:NGM)

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