NGM Biopharmaceuticals (NASDAQ:NGM) Price Target Cut to $29.00 by B. Riley Analysts

NGM Biopharmaceuticals (NASDAQ: NGM – Get Appraisal) had its price target reduced by investment analysts B. Riley from $35.00 to $29.00 in a research note released on Friday, reports The Fly. B. Riley’s price target indicates a potential upside of 134.25% from the company’s current price.

Separately, Jefferies Financial Group began covering NGM Biopharmaceuticals stocks in a Wednesday, July 20 research report. They issued a “buy” rating and a price target of $25.00 for the company.

Performance of NGM Biopharmaceuticals stock

NGM opened at $12.38 on Friday. The stock’s 50-day moving average price is $14.91 and its 200-day moving average price is $14.52. NGM Biopharmaceuticals has a 1-year low of $10.49 and a 1-year high of $21.63. The stock has a market capitalization of $994.98 million, a price-earnings ratio of -7.16 and a beta of 1.61.

NGM Biopharmaceuticals (NASDAQ:NGM – Get Rating) last reported quarterly earnings data on Thursday, August 4. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.04). The company posted revenue of $8.29 million in the quarter, versus a consensus estimate of $13.36 million. NGM Biopharmaceuticals recorded a negative net margin of 196.39% and a negative return on equity of 41.79%. As a group, analysts predict NGM Biopharmaceuticals will post earnings per share of -2.27 for the current fiscal year.

Hedge funds weigh on NGM Biopharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Column Group LLC strengthened its position in NGM Biopharmaceuticals by 11.6% in the 2nd quarter. Column Group LLC now owns 18,136,735 shares of the company valued at $232,513,000 after acquiring an additional 1,890,918 shares in the last quarter. Vanguard Group Inc. increased its stake in NGM Biopharmaceuticals by 1.6% in the first quarter. Vanguard Group Inc. now owns 3,014,475 shares of the company valued at $45,971,000 after purchasing an additional 47,238 shares in the last quarter. BlackRock Inc. increased its stake in NGM Biopharmaceuticals by 2.1% in the first quarter. BlackRock Inc. now owns 2,839,674 shares of the company worth $43,306,000 after purchasing an additional 58,883 shares in the last quarter. FMR LLC increased its position in NGM Biopharmaceuticals shares by 61.8% during the second quarter. FMR LLC now owns 2,060,533 shares of the company valued at $26,416,000 after purchasing an additional 787,347 shares in the last quarter. Finally, First Light Asset Management LLC increased its stake in NGM Biopharmaceuticals shares by 39.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,135,884 shares of the company valued at $14,562,000 after purchasing an additional 319,231 shares last quarter. 85.05% of the shares are held by hedge funds and other institutional investors.

NGM Biopharmaceuticals Company Profile

(Get a rating)

NGM Biopharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of novel therapies to treat liver and metabolic diseases, retinal diseases and cancer. The Company’s product candidates include Aldafermin, a modified human fibroblast growth factor 19 analog, which is in Phase IIb clinical trials for the treatment of non-alcoholic steatohepatitis (NASH); and MK-3655, an agonist 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.

Read more

The Fly logo

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider NGM Biopharmaceuticals, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and NGM Biopharmaceuticals was not on the list.

Although NGM Biopharmaceuticals currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Eleanor C. William