TD Cowen Downgrades NGM Biopharmaceuticals (NGM)

Fintel reports that on February 28, 2024, TD Cowen downgraded their outlook for NGM Biopharmaceuticals (NasdaqGS:NGM) from Outperform to Market Perform .

Analyst Price Forecast Suggests 165.95% Upside

As of February 23, 2024, the average one-year price target for NGM Biopharmaceuticals is 4.34. The forecasts range from a low of 2.02 to a high of $6.30. The average price target represents an increase of 165.95% from its latest reported closing price of 1.63.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for NGM Biopharmaceuticals is 17MM, a decrease of 22.17%. The projected annual non-GAAP EPS is -1.77.

What is the Fund Sentiment?

There are 225 funds or institutions reporting positions in NGM Biopharmaceuticals. This is a decrease of 35 owner(s) or 13.46% in the last quarter. Average portfolio weight of all funds dedicated to NGM is 0.05%, a decrease of 19.94%. Total shares owned by institutions decreased in the last three months by 11.94% to 43,748K shares. NGM / NGM Biopharmaceuticals, Inc. Put/Call Ratios The put/call ratio of NGM is 0.02, indicating a bullish outlook.

What are Other Shareholders Doing?

NGM / NGM Biopharmaceuticals, Inc. Shares Held by Institutions

Column Group holds 18,137K shares representing 21.93% ownership of the company. No change in the last quarter.

EcoR1 Capital holds 2,386K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 6,436K shares, representing a decrease of 169.73%. The firm decreased its portfolio allocation in NGM by 77.09% over the last quarter.

StepStone Group holds 1,573K shares representing 1.90% ownership of the company. No change in the last quarter.

Acadian Asset Management holds 1,339K shares representing 1.62% ownership of the company. In it's prior filing, the firm reported owning 1,194K shares, representing an increase of 10.85%. The firm decreased its portfolio allocation in NGM by 16.68% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,269K shares representing 1.53% ownership of the company. No change in the last quarter.

Ngm Biopharmaceuticals Background Information
(This description is provided by the company.)

NGM is a biopharmaceutical company focused on discovering and developing novel therapeutics based on scientific understanding of key biological pathways underlying liver and metabolic diseases, retinal diseases and cancer. The Company leverages its biology-centric drug discovery approach to uncover novel mechanisms of action and generate proprietary insights that enable it to move rapidly into proof-of-concept studies and deliver potential first-in-class medicines to patients. NGM aspires to operate one of the most productive research and development engines in the biopharmaceutical industry.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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