NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) Expected to Announce Earnings of -$0.37 Per Share

Brokerages predict that NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) will announce earnings per share (EPS) of ($0.37) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for NGM Biopharmaceuticals’ earnings. The lowest EPS estimate is ($0.39) and the highest is ($0.30). NGM Biopharmaceuticals posted earnings of ($0.40) per share in the same quarter last year, which would indicate a positive year over year growth rate of 7.5%. The business is scheduled to report its next earnings report on Thursday, March 3rd.

On average, analysts expect that NGM Biopharmaceuticals will report full-year earnings of ($1.58) per share for the current financial year, with EPS estimates ranging from ($1.60) to ($1.51). For the next year, analysts expect that the firm will report earnings of ($2.06) per share, with EPS estimates ranging from ($2.46) to ($1.64). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for NGM Biopharmaceuticals.

NGM Biopharmaceuticals (NASDAQ:NGM) last issued its earnings results on Thursday, November 4th. The company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.03). The business had revenue of $18.58 million for the quarter, compared to the consensus estimate of $18.90 million. NGM Biopharmaceuticals had a negative return on equity of 34.43% and a negative net margin of 157.90%.

A number of equities analysts recently commented on NGM shares. BMO Capital Markets raised their price objective on shares of NGM Biopharmaceuticals from $29.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, September 16th. Zacks Investment Research downgraded shares of NGM Biopharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. Raymond James increased their target price on shares of NGM Biopharmaceuticals from $39.00 to $42.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 5th. Finally, Piper Sandler increased their target price on shares of NGM Biopharmaceuticals from $30.00 to $32.00 in a research report on Friday, January 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $33.67.

NASDAQ:NGM traded up $0.11 during trading hours on Friday, reaching $15.97. 12,312 shares of the company’s stock were exchanged, compared to its average volume of 361,094. The company has a market capitalization of $1.24 billion, a P/E ratio of -9.92 and a beta of 1.78. NGM Biopharmaceuticals has a 12 month low of $14.90 and a 12 month high of $32.12. The business’s 50-day simple moving average is $18.45 and its two-hundred day simple moving average is $20.35.

In related news, insider Jin-Long Chen sold 15,000 shares of NGM Biopharmaceuticals stock in a transaction on Monday, December 6th. The shares were sold at an average price of $18.21, for a total value of $273,150.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 60,000 shares of company stock worth $1,165,350 in the last 90 days. 45.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NGM. Macquarie Group Ltd. bought a new position in NGM Biopharmaceuticals in the 3rd quarter worth $43,000. Royal Bank of Canada grew its position in NGM Biopharmaceuticals by 30.7% in the 2nd quarter. Royal Bank of Canada now owns 2,157 shares of the company’s stock worth $43,000 after purchasing an additional 507 shares during the last quarter. Legal & General Group Plc grew its position in NGM Biopharmaceuticals by 62.5% in the 2nd quarter. Legal & General Group Plc now owns 4,455 shares of the company’s stock worth $87,000 after purchasing an additional 1,713 shares during the last quarter. Federated Hermes Inc. acquired a new stake in NGM Biopharmaceuticals in the 2nd quarter worth $132,000. Finally, BNP Paribas Arbitrage SA grew its position in NGM Biopharmaceuticals by 131.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,669 shares of the company’s stock worth $161,000 after purchasing an additional 4,354 shares during the last quarter. Hedge funds and other institutional investors own 58.50% of the company’s stock.

About NGM Biopharmaceuticals

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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Earnings History and Estimates for NGM Biopharmaceuticals (NASDAQ:NGM)

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