Raymond James analyst Steven Seedhouse maintained a Buy rating on NGM Biopharmaceuticals (NGM) yesterday. The company’s shares closed last Monday at $16.28.
According to TipRanks.com, Seedhouse is a 5-star analyst with an average return of 20.4% and a 44.7% success rate. Seedhouse covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Alexion Pharmaceuticals, and Apellis Pharmaceuticals.
NGM Biopharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $33.00, representing a 98.3% upside. In a report released yesterday, B.Riley Financial also reiterated a Buy rating on the stock with a $30.00 price target.
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Based on NGM Biopharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $19.76 million and GAAP net loss of $25.62 million. In comparison, last year the company earned revenue of $25.34 million and had a GAAP net loss of $7.67 million.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NGM in relation to earlier this year.
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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.
