Chardan Capital Reaffirms Their Buy Rating on NGM Biopharmaceuticals (NGM)

By Austin Angelo

In a report released today, Michael Morabito from Chardan Capital reiterated a Buy rating on NGM Biopharmaceuticals (NGMResearch Report), with a price target of $39.00. The company’s shares closed last Monday at $16.28.

According to TipRanks.com, Morabito ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -17.8% and a 21.7% success rate. Morabito covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Viking Therapeutics, and Akero Therapeutics.

NGM Biopharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $33.00, a 98.3% upside from current levels. 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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The company has a one-year high of $23.95 and a one-year low of $9.25. Currently, NGM Biopharmaceuticals has an average volume of 159.2K.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.