Raymond James Downgrades NGM Biopharmaceuticals to Market Perform
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst Steven Seedhouse downgraded NGM Biopharmaceuticals (NASDAQ:NGM) from Outperform to Market Perform, indicating a neutral outlook on the company's stock.

March 12, 2024 | 9:25 am
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NEUTRAL IMPACT
NGM Biopharmaceuticals was downgraded by Raymond James from Outperform to Market Perform, suggesting a shift to a neutral stance on the stock's future performance.
The downgrade by a prominent analyst like Steven Seedhouse from Raymond James can influence investor sentiment and potentially lead to short-term stability in NGM's stock price. The change to Market Perform suggests that the analyst no longer sees the stock outperforming the market, which could temper expectations and investment flows.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100