Shares of NGM Biopharmaceuticals (NYSE:NGM) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy recommendation.
Brokerages have set a twelve-month consensus price target of $26.67 for the company and are forecasting that the company will post ($0.27) EPS for the current quarter, according to Zacks. Zacks has also assigned NGM Biopharmaceuticals an industry rank of 90 out of 256 based on the ratings given to its competitors.
Several analysts have recently weighed in on the company. Goldman Sachs Group started coverage on NGM Biopharmaceuticals in a report on Monday, April 29th. They set a “buy” rating and a $22.00 price objective on the stock. Cowen reiterated a “buy” rating and issued a $25.00 price objective on shares of NGM Biopharmaceuticals in a research report on Monday, May 20th. Citigroup assumed coverage on NGM Biopharmaceuticals in a research report on Monday, April 29th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Stifel Nicolaus restated a “buy” rating and set a $26.00 target price on shares of NGM Biopharmaceuticals in a research report on Wednesday, August 14th.
NGM Biopharmaceuticals (NYSE:NGM) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.84) by $0.71. The company had revenue of $25.34 million during the quarter, compared to the consensus estimate of $19.00 million.
In related news, major shareholder Group L. P. Column purchased 67,742 shares of NGM Biopharmaceuticals stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price of $13.49 per share, with a total value of $913,839.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Group L. P. Column purchased 25,200 shares of NGM Biopharmaceuticals stock in a transaction that occurred on Thursday, June 6th. The shares were bought at an average cost of $13.40 per share, for a total transaction of $337,680.00. The disclosure for this purchase can be found here. Insiders have purchased 597,893 shares of company stock valued at $8,245,610 over the last three months.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. bought a new stake in NGM Biopharmaceuticals in the 2nd quarter valued at about $1,968,000. JPMorgan Chase & Co. bought a new stake in NGM Biopharmaceuticals during the 2nd quarter valued at $27,000. Jasper Ridge Partners L.P. bought a new position in shares of NGM Biopharmaceuticals in the second quarter worth $5,109,000. Artal Group S.A. bought a new position in NGM Biopharmaceuticals in the second quarter valued at $1,464,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in NGM Biopharmaceuticals during the second quarter valued at about $564,000.
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 NGM282, an engineered variant of the FGF19 human hormone in Phase 2 clinical trials for the treatment of non-alcoholic steatohepatitis (NASH); NGM313, an agonistic antibody that selectively activates fibroblast growth factor receptor 1c-beta-klotho, which is in Phase 1b early proof-of-concept clinical trials for use in the treatment of type 2 diabetes and NASH; and NGM386 and NGM395, which are engineered variants of the GDF15 human hormone for use in the treatment of obesity.
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