NGM Biopharmaceuticals (NGM) PT Raised to $30 at Cowen

Cowen analyst Ritu Baral raised the price target on NGM Biopharmaceuticals (NASDAQ: NGM) to $30.00 (from $25.00) while maintaining an Outperform rating.

The analyst commented, "NGM presented topline biopsy data from Cohort 4 in their Ph2a. The data demonstrated impressive improvements in both fibrosis (38% vs 18% pbo) and NASH resolution (24% vs 9%). Aldafermin is the only drug to demonstrate this degree of anti-fibrotic benefit. We think aldafermin could become the mainstay of NASH treatment; PT increased to $30."

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