Zacks: Brokerages Anticipate NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) Will Post Quarterly Sales of $15.32 Million

Analysts forecast that NGM Biopharmaceuticals, Inc. (NASDAQ:NGMGet Rating) will post $15.32 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for NGM Biopharmaceuticals’ earnings, with the highest sales estimate coming in at $21.00 million and the lowest estimate coming in at $4.00 million. NGM Biopharmaceuticals posted sales of $16.77 million during the same quarter last year, which suggests a negative year-over-year growth rate of 8.6%. The company is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that NGM Biopharmaceuticals will report full-year sales of $66.88 million for the current financial year, with estimates ranging from $32.95 million to $83.90 million. For the next year, analysts expect that the firm will post sales of $32.73 million, with estimates ranging from $12.00 million to $60.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow NGM Biopharmaceuticals.

NGM Biopharmaceuticals (NASDAQ:NGMGet Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.04. NGM Biopharmaceuticals had a negative net margin of 162.11% and a negative return on equity of 36.46%.

NGM has been the topic of several recent analyst reports. Raymond James downgraded shares of NGM Biopharmaceuticals from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, March 2nd. The Goldman Sachs Group cut their target price on shares of NGM Biopharmaceuticals from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Finally, Zacks Investment Research raised shares of NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, March 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $32.57.

In other news, Director Group L. P. Column purchased 83,175 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were purchased at an average price of $11.25 per share, with a total value of $935,718.75. Following the completion of the acquisition, the director now owns 1,012,753 shares in the company, valued at approximately $11,393,471.25. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Group L. P. Column bought 17,828 shares of NGM Biopharmaceuticals stock in a transaction that occurred on Tuesday, May 24th. The stock was purchased at an average cost of $13.37 per share, for a total transaction of $238,360.36. Following the purchase, the director now owns 1,452,674 shares of the company’s stock, valued at $19,422,251.38. The disclosure for this purchase can be found here. Over the last three months, insiders bought 410,100 shares of company stock valued at $5,091,064. Corporate insiders own 38.10% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in NGM Biopharmaceuticals during the 4th quarter valued at about $30,000. Steward Partners Investment Advisory LLC acquired a new position in NGM Biopharmaceuticals during the 1st quarter valued at approximately $31,000. Point72 Hong Kong Ltd increased its stake in shares of NGM Biopharmaceuticals by 102.8% in the first quarter. Point72 Hong Kong Ltd now owns 2,034 shares of the company’s stock worth $31,000 after acquiring an additional 1,031 shares during the period. Exane Derivatives increased its stake in shares of NGM Biopharmaceuticals by 2,163.4% in the fourth quarter. Exane Derivatives now owns 2,105 shares of the company’s stock worth $37,000 after acquiring an additional 2,012 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in NGM Biopharmaceuticals during the third quarter worth $43,000. Institutional investors and hedge funds own 58.50% of the company’s stock.

Shares of NASDAQ:NGM opened at $13.80 on Thursday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -8.52 and a beta of 1.78. NGM Biopharmaceuticals has a 12 month low of $10.49 and a 12 month high of $27.25. The firm’s 50-day moving average is $14.06 and its 200 day moving average is $15.61.

NGM Biopharmaceuticals Company Profile (Get Rating)

NGM Biopharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of novel therapeutics to treat liver and metabolic diseases, retinal diseases, and cancer. The company's product candidates include Aldafermin, an engineered analog of human hormone fibroblast growth factor 19, which is in Phase IIb clinical trials for the treatment of non-alcoholic steatohepatitis (NASH); and MK-3655, an agonistic antibody that activates fibroblast growth factor receptor 1c-beta-klotho, which is in Phase IIb clinical trials for use in the treatment of type 2 diabetes and NASH.

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