Piper says NGM Biopharmaceuticals R&D day highlights 'undervaluation' of shares NGM, MRK Piper Sandler analyst Yasmeen Rahimi said NGM Biopharmaceuticals' (NGM) "well-executed Virtual R&D day" yesterday highlighted what she expects to be a "catalyst-rich 2021" as well as stressing the current undervaluation of the shares. Following the event, she is "convinced more than ever" that NGM will continue to bring multiple assets into clinical development and that Merck (MRK) is "fully committed" to its partnership with the company to expand the pipeline. Rahimi has an Overweight rating and $30 price target on NGM shares.
Just a thought MRK is tied in pretty tight here to NGM would they maybe buy them? The M&A seems strong now....