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

Shares of NGM Biopharmaceuticals, Inc. (NASDAQ:NGM – Get Rating) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $31.20.

A number of equities research analysts have commented on NGM shares. Zacks Investment Research upgraded shares of NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, March 9th. Raymond James lowered shares of NGM Biopharmaceuticals from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, March 2nd.

In related news, Director Group L. P. Column bought 89,049 shares of the stock in a transaction on Tuesday, May 17th. The stock was bought at an average price of $13.42 per share, with a total value of $1,195,037.58. Following the completion of the purchase, the director now directly owns 1,336,461 shares in the company, valued at approximately $17,935,306.62. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Group L. P. Column acquired 83,175 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was bought at an average price of $10.79 per share, for a total transaction of $897,458.25. Following the completion of the acquisition, the director now owns 902,090 shares in the company, valued at approximately $9,733,551.10. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 276,065 shares of company stock worth $3,302,039. Insiders own 38.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in NGM. Point72 Asset Management L.P. lifted its stake in NGM Biopharmaceuticals by 128.5% during the fourth quarter. Point72 Asset Management L.P. now owns 3,297,898 shares of the company’s stock worth $58,406,000 after purchasing an additional 1,854,904 shares during the last quarter. StepStone Group LP acquired a new position in NGM Biopharmaceuticals in the third quarter valued at $33,072,000. Woodline Partners LP purchased a new position in shares of NGM Biopharmaceuticals during the first quarter worth about $7,183,000. Millennium Management LLC increased its position in shares of NGM Biopharmaceuticals by 351.1% during the fourth 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 in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of NGM Biopharmaceuticals by 13.7% in the 4th quarter. BlackRock Inc. now owns 2,780,791 shares of the company’s stock valued at $49,250,000 after purchasing an additional 335,959 shares during the last quarter. 58.50% of the stock is owned by institutional investors and hedge funds.

NASDAQ NGM opened at $13.74 on Tuesday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -8.48 and a beta of 1.79. The company has a 50 day moving average of $14.54 and a 200-day moving average of $16.09. NGM Biopharmaceuticals has a 1-year low of $10.49 and a 1-year high of $27.25.

NGM Biopharmaceuticals (NASDAQ:NGM – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.04. NGM Biopharmaceuticals had a negative net margin of 162.11% and a negative return on equity of 36.46%. Research analysts expect that NGM Biopharmaceuticals will post -2.06 earnings per share for the current year.

NGM Biopharmaceuticals Company Profile (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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