Raymond James Sticks to Its Buy Rating for NGM Biopharmaceuticals (NGM)


In a report released today, Steven Seedhouse from Raymond James maintained a Buy rating on NGM Biopharmaceuticals (NGM), with a price target of $52.00. The company’s shares closed last Friday at $26.77.

According to TipRanks.com, Seedhouse is a 3-star analyst with an average return of 5.0% and a 39.3% success rate. Seedhouse covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Apellis Pharmaceuticals, and Alexion Pharmaceuticals.

Currently, the analyst consensus on NGM Biopharmaceuticals is a Strong Buy with an average price target of $42.83, representing a 59.9% upside. In a report issued on April 28, BMO Capital also maintained a Buy rating on the stock with a $38.00 price target.

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NGM Biopharmaceuticals’ market cap is currently $2.06B and has a P/E ratio of -17.90. The company has a Price to Book ratio of 7.39.

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NGM Biopharmaceuticals, Inc. engages in the discovery and development of therapeutics for major diseases with an initial focus on cardio-metabolic and liver diseases. Its portfolio if composed of product candidates which focuses on non-alcoholic steatohepatitis, type 2 diabetes, obesity, oncology and age-related macular degeneration. The company was founded by Jin-Long Chen in 2008 and is headquartered in South San Francisco, CA.

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