Shares of NGM Biopharmaceuticals (NYSE:NGM) have received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokers have set a 1-year consensus price objective of $27.00 for the company and are predicting that the company will post ($0.31) earnings per share for the current quarter, according to Zacks. Zacks has also given NGM Biopharmaceuticals an industry rank of 75 out of 256 based on the ratings given to its competitors.
A number of research firms have recently weighed in on NGM. Cowen started coverage on NGM Biopharmaceuticals in a report on Monday. They set an “outperform” rating and a $25.00 price target for the company. Goldman Sachs Group began coverage on NGM Biopharmaceuticals in a research report on Monday. They set a “buy” rating and a $22.00 target price on the stock. Finally, Citigroup initiated coverage on NGM Biopharmaceuticals in a research note on Monday. They issued a “buy” rating and a $29.00 price target on the stock.
In other NGM Biopharmaceuticals news, Director Suzanne Sawochka Hooper acquired 7,000 shares of the stock in a transaction dated Monday, April 8th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $112,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Merck & Co., Inc. acquired 4,121,683 shares of the business’s stock in a transaction on Monday, April 8th. The shares were bought at an average cost of $16.00 per share, with a total value of $65,946,928.00. The disclosure for this purchase can be found here.
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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