NGM Biopharmaceuticals (NYSE:NGM) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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.

In other NGM Biopharmaceuticals news, Director Peter Svennilson purchased 8,307 shares of the stock in a transaction on Thursday, March 5th. The stock was acquired at an average price of $18.00 per share, with a total value of $149,526.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $360,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jin-Long Chen sold 16,090 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $18.20, for a total value of $292,838.00. Following the transaction, the insider now directly owns 1,012,783 shares of the company’s stock, valued at approximately $18,432,650.60. The disclosure for this sale can be found here. Insiders have acquired a total of 229,169 shares of company stock valued at $4,009,213 in the last ninety days.

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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