Raymond James analyst Steven Seedhouse downgraded NGM Biopharmaceuticals to Market Perform from Outperform without a price target citing the pending merger with Atlas Neon that is expected to take NGM private in Q2. The firm does not think this is a good outcome for NGM or shareholders and thinks it “leaves significant value creation in the public market on the table.”
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on NGM:
- NGM Bio Provides Recent Business Highlights and Reports Fourth Quarter and Full Year 2023 Financial Results
- NGM Biopharmaceuticals downgraded to Market Perform from Outperform at TD Cowen
- NGM Biopharmaceuticals downgraded to Neutral from Buy at Citi
- NGM Biopharmaceuticals Acquisition by Atlas Neon Parent
- NGM Biopharmaceuticals trading resumes