Analysts Set NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) Price Target at $35.25

NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) has been assigned an average recommendation of “Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $35.25.

NGM has been the subject of a number of research reports. Zacks Investment Research cut NGM Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 8th. Stifel Nicolaus cut their price target on NGM Biopharmaceuticals from $43.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, May 24th. Raymond James cut NGM Biopharmaceuticals from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $52.00 to $22.00 in a research note on Monday, May 24th. Finally, Chardan Capital upped their price target on NGM Biopharmaceuticals from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, March 5th.

NASDAQ NGM traded up $0.41 on Tuesday, reaching $18.54. The stock had a trading volume of 4,835 shares, compared to its average volume of 344,197. NGM Biopharmaceuticals has a 12-month low of $14.90 and a 12-month high of $32.12. The company’s 50-day moving average is $24.19. The firm has a market capitalization of $1.43 billion, a PE ratio of -11.55 and a beta of 2.00.

NGM Biopharmaceuticals (NASDAQ:NGM) last issued its quarterly earnings data on Thursday, May 6th. The company reported ($0.36) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.05. NGM Biopharmaceuticals had a negative return on equity of 35.28% and a negative net margin of 131.14%. As a group, sell-side analysts forecast that NGM Biopharmaceuticals will post -1.39 EPS for the current fiscal year.

In other NGM Biopharmaceuticals news, insider Jin-Long Chen sold 25,000 shares of the stock in a transaction on Monday, April 12th. The stock was sold at an average price of $24.65, for a total value of $616,250.00. Following the completion of the transaction, the insider now owns 945,005 shares in the company, valued at $23,294,373.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 50.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in NGM Biopharmaceuticals by 7.6% in the first quarter. Principal Financial Group Inc. now owns 15,291 shares of the company’s stock valued at $445,000 after purchasing an additional 1,077 shares during the last quarter. Octagon Capital Advisors LP grew its holdings in NGM Biopharmaceuticals by 165.9% in the first quarter. Octagon Capital Advisors LP now owns 200,000 shares of the company’s stock valued at $5,814,000 after purchasing an additional 124,773 shares during the last quarter. Squarepoint Ops LLC grew its holdings in NGM Biopharmaceuticals by 16.6% in the first quarter. Squarepoint Ops LLC now owns 24,039 shares of the company’s stock valued at $699,000 after purchasing an additional 3,421 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in NGM Biopharmaceuticals by 173.7% in the first quarter. Baker BROS. Advisors LP now owns 291,801 shares of the company’s stock valued at $8,483,000 after purchasing an additional 185,185 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in NGM Biopharmaceuticals by 23.5% in the first quarter. Point72 Asset Management L.P. now owns 2,175,000 shares of the company’s stock valued at $63,227,000 after purchasing an additional 413,843 shares during the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

About NGM Biopharmaceuticals

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 trial for use in the treatment of type 2 diabetes and NASH.

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Analyst Recommendations for NGM Biopharmaceuticals (NASDAQ:NGM)

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