Stocks of NGM Biopharmaceuticals Inc. (NASDAQ:NGM) traded higher last session on Wall Street, down -3.06% to $3.80.
As we calculate the median target price by taking the range between a high of $9.00 and a low of $4.00, we find $5.00. Given the previous closing price of $3.92, this indicates a potential upside of 27.55 percent. NGM stock price is now -21.15% away from the 50-day moving average and -60.50% away from the 200-day moving average. The market capitalization of the company currently stands at $313.39M.
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Brokers who have rated the stock have averaged $5.83 as their price target over the next twelve months.
With the price target reduced from $42 to $4, Raymond James Downgraded its rating from Strong Buy to Outperform for NGM Biopharmaceuticals Inc. (NASDAQ: NGM). On October 18, 2022, Goldman Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $29 to quote $4, while ‘Piper Sandler’ rates the stock as ‘Neutral’.
In other news, GOEDDEL DAVID V, Director bought 176,730 shares of the company’s stock on Jan 31. The stock was bought for $883,403 at an average price of $5.00. Upon completion of the transaction, the Director now directly owns 927,231 shares in the company, valued at $3.52 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 31, Director COLUMN GROUP L P bought 176,730 shares of the business’s stock. A total of $883,403 was incurred on buying the stock at an average price of $5.00. This leaves the insider owning 927,231 shares of the company worth $3.52 million. Insiders disposed of 85,082 shares of company stock worth roughly $0.32 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NGM stock. A new stake in NGM Biopharmaceuticals Inc. shares was purchased by ACADIAN ASSET MANAGEMENT LLC during the first quarter worth $2,209,000. GRAHAM CAPITAL MANAGEMENT, L.P. invested $429,000 in shares of NGM during the first quarter. In the first quarter, AQR CAPITAL MANAGEMENT LLC acquired a new stake in NGM Biopharmaceuticals Inc. valued at approximately $291,000. OCCUDO QUANTITATIVE STRATEGIES LP acquired a new stake in NGM for approximately $245,000. ALPS ADVISORS INC purchased a new stake in NGM valued at around $211,000 in the second quarter. In total, there are 202 active investors with 65.40% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $3.8100 for NGM Biopharmaceuticals Inc. (NASDAQ: NGM). During the past 12 months, NGM Biopharmaceuticals Inc. has had a low of $2.92 and a high of $18.25. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 6.00, and a quick ratio of 6.00. The fifty day moving average price for NGM is $4.7948 and a two-hundred day moving average price translates $9.5714 for the stock.
The latest earnings results from NGM Biopharmaceuticals Inc. (NASDAQ: NGM) was released for Sep, 2022. According to the Biotechnology Company, earnings per share came in at -$0.59, inline with analysts’ expectations of -$0.59. This compares to -$0.35 EPS in the same period last year. The company reported revenue of $18.18 million for the quarter, compared to $20.96 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -13.25 percent. For the current quarter, analysts expect NGM to generate $6.76M in revenue.
NGM Biopharmaceuticals Inc.(NGM) Company Profile
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 trials for use in the treatment of type 2 diabetes and NASH. Its products under development also comprise NGM120, an antagonist antibody that binds GFRAL that is in Phase I/II clinical trials; NGM621, an immunoglobulin 1 monoclonal antibody in Phase II clinical trials for the treatment of geographic atrophy; NGM707, an immunoglobulin-like transcript 2/ immunoglobulin-like transcript 4 dual antagonist monoclonal antibody that is in Phase I/II clinical trials for the treatment of patients with advanced solid tumors; and NGM831 and NGM438 for the treatment of advanced solid tumors. The company has research collaboration, product development, and license agreements with Merck Sharp & Dohme Corp.; and a collaboration agreement with Merck & Co., Inc. to focus primarily on the development of novel medicines for unmet patient needs in retinal and CVM diseases, including heart failure. NGM Biopharmaceuticals, Inc. was incorporated in 2007 and is headquartered in South San Francisco, California.
