NGM Biopharmaceuticals (NASDAQ:NGM) Price Target Cut to $29.00 by Analysts at The Goldman Sachs Group

NGM Biopharmaceuticals (NASDAQ:NGMGet Rating) had its price objective reduced by equities researchers at The Goldman Sachs Group from $34.00 to $29.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 113.08% from the company’s previous close.

A number of other research analysts also recently commented on NGM. Zacks Investment Research raised shares of NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, March 9th. Raymond James downgraded shares of NGM Biopharmaceuticals from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, March 2nd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $31.25.

NGM stock traded down $0.13 during trading on Tuesday, hitting $13.61. The company had a trading volume of 4,192 shares, compared to its average volume of 296,724. The firm has a market capitalization of $1.08 billion, a P/E ratio of -8.42 and a beta of 1.79. NGM Biopharmaceuticals has a 52-week low of $10.49 and a 52-week high of $27.25. The company has a 50 day simple moving average of $14.54 and a 200-day simple moving average of $16.09.

NGM Biopharmaceuticals (NASDAQ:NGMGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.42) EPS for the quarter, topping 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%. As a group, analysts anticipate that NGM Biopharmaceuticals will post -2.06 earnings per share for the current year.

In other NGM Biopharmaceuticals news, Director Group L. P. Column acquired 89,049 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was acquired at an average cost of $13.42 per share, for a total transaction of $1,195,037.58. Following the purchase, the director now owns 1,336,461 shares in the company, valued at approximately $17,935,306.62. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Group L. P. Column acquired 20,666 shares of the firm’s stock in a transaction on Thursday, May 19th. The shares were acquired at an average price of $13.25 per share, with a total value of $273,824.50. Following the completion of the purchase, the director now owns 1,417,028 shares in the company, valued at approximately $18,775,621. The disclosure for this purchase can be found here. Insiders purchased a total of 276,065 shares of company stock valued at $3,302,039 over the last quarter. 38.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in NGM. Acadian Asset Management LLC purchased a new position in shares of NGM Biopharmaceuticals during the 4th quarter valued at approximately $30,000. Steward Partners Investment Advisory LLC purchased a new position in shares of NGM Biopharmaceuticals during the 1st quarter valued at approximately $31,000. Point72 Hong Kong Ltd increased its holdings in NGM Biopharmaceuticals by 102.8% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,034 shares of the company’s stock worth $31,000 after acquiring an additional 1,031 shares in the last quarter. Exane Derivatives increased its holdings in NGM Biopharmaceuticals by 2,163.4% in the 4th quarter. Exane Derivatives now owns 2,105 shares of the company’s stock worth $37,000 after acquiring an additional 2,012 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in NGM Biopharmaceuticals in the 3rd quarter worth $43,000. 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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