NGM Biopharmaceuticals (NASDAQ:NGM) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

NGM Biopharmaceuticals (NASDAQ:NGMGet Rating) issued its quarterly earnings results on Friday. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.04, MarketWatch Earnings reports. NGM Biopharmaceuticals had a negative net margin of 154.51% and a negative return on equity of 32.92%.

Shares of NGM opened at $11.29 on Friday. The firm has a 50 day moving average of $15.04 and a 200 day moving average of $16.67. NGM Biopharmaceuticals has a twelve month low of $10.91 and a twelve month high of $30.13.

A number of equities research analysts recently commented on the company. Raymond James lowered NGM Biopharmaceuticals from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, March 2nd. Zacks Investment Research upgraded shares of NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, March 9th. Finally, Piper Sandler raised their target price on NGM Biopharmaceuticals from $30.00 to $32.00 in a research note on Friday, January 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $31.57.

A number of hedge funds and other institutional investors have recently made changes to their positions in NGM. BlackRock Inc. lifted its holdings in shares of NGM Biopharmaceuticals by 13.7% in the fourth quarter. BlackRock Inc. now owns 2,780,791 shares of the company’s stock worth $49,250,000 after buying an additional 335,959 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of NGM Biopharmaceuticals by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 697,974 shares of the company’s stock worth $12,361,000 after purchasing an additional 54,101 shares during the last quarter. State Street Corp grew its holdings in shares of NGM Biopharmaceuticals by 8.7% in the fourth quarter. State Street Corp now owns 675,380 shares of the company’s stock worth $11,961,000 after purchasing an additional 54,217 shares during the last quarter. Millennium Management LLC lifted its position in shares of NGM Biopharmaceuticals by 351.1% in the 4th quarter. Millennium Management LLC now owns 534,349 shares of the company’s stock worth $9,463,000 after purchasing an additional 415,907 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in NGM Biopharmaceuticals by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 280,468 shares of the company’s stock worth $4,968,000 after buying an additional 5,222 shares in the last quarter. 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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Earnings History for NGM Biopharmaceuticals (NASDAQ:NGM)

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