NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) Given Average Recommendation of “Moderate Buy” by Brokerages

NGM Biopharmaceuticals, Inc. (NASDAQ:NGM – Get Rating) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.14.

A number of equities analysts have recently weighed in on the stock. Citigroup started coverage on shares of NGM Biopharmaceuticals in a research note on Wednesday, May 3rd. They set a “buy” rating and a $6.00 price target on the stock. B. Riley reduced their price objective on NGM Biopharmaceuticals from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, March 30th.

NGM Biopharmaceuticals Stock Down 5.4 %

Shares of NASDAQ:NGM opened at $3.14 on Friday. The firm’s 50 day moving average price is $3.83 and its 200 day moving average price is $4.60. The stock has a market cap of $258.61 million, a price-to-earnings ratio of -1.42 and a beta of 1.21. NGM Biopharmaceuticals has a fifty-two week low of $2.92 and a fifty-two week high of $18.25.

NGM Biopharmaceuticals (NASDAQ:NGM – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.07. The firm had revenue of $18.18 million for the quarter, compared to analysts’ expectations of $6.83 million. NGM Biopharmaceuticals had a negative net margin of 485.54% and a negative return on equity of 67.22%. On average, equities analysts anticipate that NGM Biopharmaceuticals will post -1.81 EPS for the current year.

Institutional Trading of NGM Biopharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank increased its position in NGM Biopharmaceuticals by 8.7% during the 1st quarter. Swiss National Bank now owns 73,500 shares of the company’s stock worth $1,121,000 after purchasing an additional 5,900 shares in the last quarter. Raymond James & Associates purchased a new position in NGM Biopharmaceuticals in the 1st quarter worth approximately $959,000. Raymond James Financial Services Advisors Inc. purchased a new position in NGM Biopharmaceuticals in the 1st quarter worth approximately $444,000. Bank of New York Mellon Corp boosted its holdings in NGM Biopharmaceuticals by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 132,514 shares of the company’s stock worth $2,021,000 after acquiring an additional 3,893 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in NGM Biopharmaceuticals by 770.9% in the 1st quarter. Acadian Asset Management LLC now owns 15,153 shares of the company’s stock worth $230,000 after acquiring an additional 13,413 shares during the period. 64.55% of the stock is currently owned by institutional investors and hedge funds.

NGM Biopharmaceuticals Company Profile

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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.