William Blair Analysts Reduce Earnings Estimates for 9 Meters Biopharma, Inc. (NASDAQ:NMTR)

Posted by Defense World Staff on May 19th, 2023

9 Meters Biopharma, Inc. (NASDAQ:NMTR – Get Rating) – Equities research analysts at William Blair decreased their Q2 2023 earnings estimates for 9 Meters Biopharma in a research note issued on Tuesday, May 16th. William Blair analyst T. Lugo now forecasts that the company will earn ($1.03) per share for the quarter, down from their previous forecast of ($1.01). The consensus estimate for 9 Meters Biopharma’s current full-year earnings is ($2.45) per share. William Blair also issued estimates for 9 Meters Biopharma’s Q3 2023 earnings at ($1.23) EPS, Q4 2023 earnings at ($1.03) EPS, FY2023 earnings at ($4.31) EPS, Q1 2024 earnings at ($1.08) EPS, Q2 2024 earnings at ($1.14) EPS, Q3 2024 earnings at ($1.22) EPS, Q4 2024 earnings at ($1.25) EPS and FY2024 earnings at ($4.69) EPS.

Several other brokerages have also weighed in on NMTR. Citigroup dropped their price objective on shares of 9 Meters Biopharma to $1.70 in a research report on Thursday. Truist Financial lowered shares of 9 Meters Biopharma from a “buy” rating to a “hold” rating in a research report on Monday, March 20th. Finally, Brookline Capital Management restated a “buy” rating on shares of 9 Meters Biopharma in a research note on Wednesday, March 22nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.18.

9 Meters Biopharma Price Performance

Shares of NMTR opened at $0.80 on Thursday. The firm has a market capitalization of $11.47 million, a PE ratio of -0.23 and a beta of 1.33. The company’s 50-day moving average is $1.15 and its 200-day moving average is $1.63. 9 Meters Biopharma has a fifty-two week low of $0.58 and a fifty-two week high of $13.20.

Hedge Funds Weigh In On 9 Meters Biopharma

Several institutional investors and hedge funds have recently modified their holdings of NMTR. Renaissance Technologies LLC acquired a new stake in 9 Meters Biopharma during the first quarter worth about $1,347,000. State Street Corp grew its stake in 9 Meters Biopharma by 2.5% during the first quarter. State Street Corp now owns 3,829,916 shares of the company’s stock worth $2,295,000 after buying an additional 91,800 shares in the last quarter. UBS Group AG grew its stake in 9 Meters Biopharma by 301.3% during the second quarter. UBS Group AG now owns 114,914 shares of the company’s stock worth $30,000 after buying an additional 86,281 shares in the last quarter. Virtu Financial LLC acquired a new stake in 9 Meters Biopharma during the second quarter worth about $47,000. Finally, Millennium Management LLC acquired a new stake in 9 Meters Biopharma during the second quarter worth about $483,000.

About 9 Meters Biopharma

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9 Meters Biopharma, Inc is a clinical-stage biopharmaceutical company, which focuses on unmet needs in gastroenterology. Its pipeline includes drug candidates for short bowel syndrome (SBS), celiac disease, and three early-stage candidates for undisclosed rare diseases and/or unmet needs. The company is founded by Jay P.