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.”
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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
