NGM Biopharmaceuticals (NYSE:NGM) Posts Earnings Results, Beats Expectations By $0.71 EPS

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NGM Biopharmaceuticals (NYSE:NGM) issued its quarterly earnings data on Monday. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.71, Bloomberg Earnings reports. The firm had revenue of $25.34 million for the quarter, compared to the consensus estimate of $19.00 million.

NYSE NGM opened at $13.50 on Tuesday. NGM Biopharmaceuticals has a 1-year low of $12.00 and a 1-year high of $18.75. The company has a 50 day simple moving average of $13.98.

A number of equities research analysts have recently issued reports on the company. Citigroup assumed coverage on NGM Biopharmaceuticals in a report on Monday, April 29th. They set a “buy” rating and a $29.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of NGM Biopharmaceuticals in a research report on Monday, June 24th. They issued a “buy” rating and a $26.00 price target for the company. Goldman Sachs Group assumed coverage on shares of NGM Biopharmaceuticals in a research report on Monday, April 29th. They issued a “buy” rating and a $22.00 price target for the company. Finally, Cowen reiterated a “buy” rating and issued a $25.00 price target on shares of NGM Biopharmaceuticals in a research report on Monday, May 20th.

In other news, major shareholder Group L. P. Column acquired 224,664 shares of the stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $14.00 per share, for a total transaction of $3,145,296.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Svennilson acquired 29,760 shares of the stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $14.05 per share, with a total value of $418,128.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 647,893 shares of company stock valued at $8,920,610.

NGM Biopharmaceuticals Company Profile

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.

See Also: Equity Income

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