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.
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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