B. Riley Securities Maintains Buy Rating for NGM Biopharmaceuticals: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
B. Riley Securities has maintained its Buy rating for NGM Biopharmaceuticals (NASDAQ:NGM) but lowered its price target from $7.00 to $3.50. Despite the reduction in the price target, the new target suggests a significant upside of 438.46% from the current trading price of $0.65. NGM Biopharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatments for various diseases, including NASH, diabetes, oncology, and AMD.
November 22, 2023 | 5:00 pm
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B. Riley Securities reaffirms a Buy rating on NGM Biopharmaceuticals with a reduced price target of $3.50, indicating a potential upside of 438.46% from the current price.
The maintenance of a Buy rating by B. Riley Securities suggests continued confidence in NGM Biopharmaceuticals' prospects, despite the lowered price target. The significant potential upside indicated by the new price target could positively influence investor sentiment and drive short-term price movement upwards.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100