NGM Biopharmaceuticals, Inc. (NASDAQ:NGM – Get Rating) – B. Riley decreased their Q2 2023 earnings per share (EPS) estimates for NGM Biopharmaceuticals in a report released on Thursday, May 11th. B. Riley analyst M. Mamtani now anticipates that the company will earn ($0.51) per share for the quarter, down from their previous forecast of ($0.47). B. Riley currently has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for NGM Biopharmaceuticals’ current full-year earnings is ($1.98) per share. B. Riley also issued estimates for NGM Biopharmaceuticals’ Q3 2023 earnings at ($0.39) EPS, Q4 2023 earnings at ($0.35) EPS, FY2023 earnings at ($1.83) EPS and FY2024 earnings at ($0.78) EPS.
Separately, Citigroup initiated coverage on NGM Biopharmaceuticals in a research report on Wednesday, May 3rd. They set a “buy” rating and a $6.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.
NGM Biopharmaceuticals Stock Performance
NGM Biopharmaceuticals (NASDAQ:NGM – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.07. The business had revenue of $18.18 million during the quarter, compared to the consensus estimate of $6.83 million. NGM Biopharmaceuticals had a negative return on equity of 67.22% and a negative net margin of 485.54%.
Hedge Funds Weigh In On NGM Biopharmaceuticals
Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SNC increased its stake in shares of NGM Biopharmaceuticals by 49.3% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 41,823 shares of the company’s stock valued at $171,000 after purchasing an additional 13,808 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of NGM Biopharmaceuticals by 54.2% during the 1st quarter. Bank of America Corp DE now owns 84,036 shares of the company’s stock valued at $343,000 after acquiring an additional 29,529 shares in the last quarter. HRT Financial LP acquired a new stake in shares of NGM Biopharmaceuticals during the 1st quarter valued at $509,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of NGM Biopharmaceuticals during the 1st quarter valued at $107,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of NGM Biopharmaceuticals by 61.5% during the 1st quarter. Acadian Asset Management LLC now owns 938,434 shares of the company’s stock valued at $3,824,000 after acquiring an additional 357,211 shares in the last quarter. Institutional investors own 64.55% of the company’s stock.
NGM Biopharmaceuticals Company Profile
NGM Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of therapeutics for cardio-metabolic, liver, oncologic, and ophthalmic diseases. Its lead product candidate, aldafermin, is designed for the treatment of patients with non-alcoholic steatohepatitis, with liver fibrosis stage 2, 3, or 4.
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