NGM Biopharmaceuticals (NYSE:NGM) issued its earnings results on Tuesday. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.02, MarketWatch Earnings reports. The company had revenue of $31.08 million for the quarter, compared to analysts’ expectations of $5.00 million.
NGM opened at $11.30 on Friday. The business has a 50 day simple moving average of $16.27 and a two-hundred day simple moving average of $15.87. NGM Biopharmaceuticals has a one year low of $8.81 and a one year high of $22.95.
Several equities research analysts recently weighed in on NGM shares. Citigroup increased their target price on NGM Biopharmaceuticals from $31.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Zacks Investment Research upgraded NGM Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Thursday. B. Riley restated a “buy” rating and set a $30.00 target price on shares of NGM Biopharmaceuticals in a report on Thursday. Stifel Nicolaus dropped their target price on NGM Biopharmaceuticals from $33.00 to $32.00 and set a “buy” rating for the company in a report on Thursday. Finally, Cowen reaffirmed a “buy” rating on shares of NGM Biopharmaceuticals in a research report on Monday, February 24th. Six investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $26.00.
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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