Brokerages Anticipate NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) Will Announce Quarterly Sales of $15.32 Million

Wall Street brokerages forecast that NGM Biopharmaceuticals, Inc. (NASDAQ:NGMGet Rating) will report sales of $15.32 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for NGM Biopharmaceuticals’ earnings, with estimates ranging from $4.00 million to $21.00 million. NGM Biopharmaceuticals posted sales of $16.77 million in the same quarter last year, which would indicate a negative year over year growth rate of 8.6%. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that NGM Biopharmaceuticals will report full-year sales of $66.88 million for the current year, with estimates ranging from $32.95 million to $83.90 million. For the next fiscal year, analysts forecast that the business will report sales of $32.73 million, with estimates ranging from $12.00 million to $60.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover NGM Biopharmaceuticals.

NGM Biopharmaceuticals (NASDAQ:NGMGet Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.04. NGM Biopharmaceuticals had a negative return on equity of 35.35% and a negative net margin of 162.11%.

NGM has been the topic of a number of recent research reports. Zacks Investment Research raised NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, March 9th. Raymond James downgraded NGM Biopharmaceuticals from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, March 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, NGM Biopharmaceuticals currently has a consensus rating of “Buy” and an average price target of $31.57.

Shares of NGM stock opened at $13.35 on Thursday. The business’s 50-day moving average price is $14.57 and its 200-day moving average price is $16.27. NGM Biopharmaceuticals has a 12 month low of $10.49 and a 12 month high of $29.58. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -8.24 and a beta of 1.79.

In other news, Director Group L. P. Column acquired 83,175 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was purchased at an average cost of $10.79 per share, for a total transaction of $897,458.25. Following the acquisition, the director now owns 902,090 shares of the company’s stock, valued at $9,733,551.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 38.10% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. boosted its stake in shares of NGM Biopharmaceuticals by 128.5% in the 4th quarter. Point72 Asset Management L.P. now owns 3,297,898 shares of the company’s stock worth $58,406,000 after buying an additional 1,854,904 shares during the last quarter. StepStone Group LP purchased a new position in NGM Biopharmaceuticals during the third quarter valued at $33,072,000. Woodline Partners LP purchased a new position in NGM Biopharmaceuticals during the first quarter valued at $7,183,000. Millennium Management LLC lifted its position in NGM Biopharmaceuticals by 351.1% during the fourth quarter. Millennium Management LLC now owns 534,349 shares of the company’s stock valued at $9,463,000 after purchasing an additional 415,907 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in NGM Biopharmaceuticals by 13.7% during the fourth quarter. BlackRock Inc. now owns 2,780,791 shares of the company’s stock valued at $49,250,000 after acquiring an additional 335,959 shares during the period. Institutional investors and hedge funds 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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