Wall Street brokerages forecast that NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) will post earnings per share of ($0.42) for the current fiscal quarter, according to Zacks. Four analysts have made estimates for NGM Biopharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.32) and the lowest estimate coming in at ($0.47). NGM Biopharmaceuticals reported earnings per share of ($0.28) in the same quarter last year, which would indicate a negative year over year growth rate of 50%. The company is expected to announce its next quarterly earnings report on Wednesday, May 12th.
According to Zacks, analysts expect that NGM Biopharmaceuticals will report full-year earnings of ($1.82) per share for the current year, with EPS estimates ranging from ($1.97) to ($1.35). For the next year, analysts expect that the business will post earnings of ($2.22) per share, with EPS estimates ranging from ($2.68) to ($1.83). Zacks’ earnings per share averages are an average based on a survey of research firms that follow NGM Biopharmaceuticals.
NGM Biopharmaceuticals (NASDAQ:NGM) last released its quarterly earnings results on Wednesday, March 3rd. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.07. NGM Biopharmaceuticals had a negative return on equity of 29.47% and a negative net margin of 91.64%.
NGM has been the topic of several recent research reports. Chardan Capital boosted their price target on NGM Biopharmaceuticals from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, March 11th. Zacks Investment Research raised NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, March 10th. Raymond James upped their target price on NGM Biopharmaceuticals from $50.00 to $52.00 and gave the company a “strong-buy” rating in a research report on Thursday, March 11th. B. Riley upped their target price on NGM Biopharmaceuticals from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, December 14th. Finally, The Goldman Sachs Group upped their target price on NGM Biopharmaceuticals from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, February 9th. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. NGM Biopharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $39.11.
NGM Biopharmaceuticals stock traded down $0.08 during midday trading on Thursday, hitting $26.33. 4,644 shares of the company were exchanged, compared to its average volume of 303,581. The company’s fifty day moving average price is $28.67 and its 200-day moving average price is $27.05. The company has a market cap of $2.02 billion, a PE ratio of -19.86 and a beta of 1.97. NGM Biopharmaceuticals has a fifty-two week low of $14.34 and a fifty-two week high of $32.12.
In other news, insider Jin-Long Chen sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $26.66, for a total value of $666,500.00. Following the completion of the sale, the insider now directly owns 970,005 shares in the company, valued at approximately $25,860,333.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 50.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Verition Fund Management LLC bought a new position in NGM Biopharmaceuticals during the 4th quarter worth $5,018,000. BlackRock Inc. grew its stake in NGM Biopharmaceuticals by 7.0% during the 3rd quarter. BlackRock Inc. now owns 2,444,439 shares of the company’s stock worth $38,891,000 after buying an additional 158,965 shares during the last quarter. Point72 Asset Management L.P. grew its stake in NGM Biopharmaceuticals by 5.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,611,850 shares of the company’s stock worth $25,645,000 after buying an additional 88,265 shares during the last quarter. First Trust Advisors LP bought a new position in NGM Biopharmaceuticals during the 3rd quarter worth $1,098,000. Finally, Morgan Stanley grew its stake in NGM Biopharmaceuticals by 37.4% during the 4th quarter. Morgan Stanley now owns 210,283 shares of the company’s stock worth $6,371,000 after buying an additional 57,234 shares during the last quarter. Institutional investors and hedge funds own 49.56% of the company’s stock.
About NGM Biopharmaceuticals
NGM Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of novel therapeutics for the treatment of cardio-metabolic, liver, oncologic, and ophthalmic diseases. The company's product candidates include Aldafermin, an engineered variant of the FGF19 human hormone in Phase 2b clinical trials for the treatment of non-alcoholic steatohepatitis (NASH); NGM313, an agonistic antibody that activates fibroblast growth factor receptor 1c-beta-klotho, which is in Phase 1b clinical trial for use in the treatment of type 2 diabetes and NASH; and NGM395, which is engineered variant of the GDF15 human hormone for use in the treatment of metabolic syndrome.
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