TD Cowen Downgrades NGM Biopharmaceuticals to Market Perform, Lowers Price Target to $1.55
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst Ritu Baral downgraded NGM Biopharmaceuticals (NGM) from Outperform to Market Perform and reduced the price target from $4 to $1.55.
February 28, 2024 | 11:44 am
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NEGATIVE IMPACT
NGM Biopharmaceuticals was downgraded by TD Cowen from Outperform to Market Perform, with a price target reduction from $4 to $1.55.
The downgrade by a prominent analyst and a significant reduction in the price target are likely to negatively impact investor sentiment and the stock price of NGM Biopharmaceuticals in the short term. Analyst ratings and price targets are closely watched by investors as indicators of a stock's future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100