Shares of NGM Biopharmaceuticals (NASDAQ:NGM) are tanking today after the topline results from its Phase 2 study of NGM621 for the treatment of geographic atrophy (GA) secondary to age-related macular degeneration (AMD) showed that the drug failed to meet the primary endpoints.
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Further details and findings from this study are anticipated in November at the Retina Society annual meeting.
Is NGM Stock a Buy?
Overall, the Street has a Moderate Buy consensus rating on NGM stock based on two unanimous Buys.
Further, the average analyst price target of $27 implies a massive 757.14% potential upside in the stock.
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