Heat the oil in a large nonstick pan over medium high heat and add in the pumpkin, shallots, and garlic. Saute until shallots turn golden brown.
Add in the broth, thyme, sage, and pepper. Cook, stirring often, until the pumpkin is softened and the liquid is reduced by 2/3, about 15-20 minutes. Place into a blender and puree, thinning with 1 tablespoon of water at a time if too thick.
In the meantime cook the gnocchi according to directions on package. Drain the gnocchi and place into a bowl. Pour the pumpkin sauce on top, sprinkle with cheese, brown sugar and nutmeg.