Niagen Bioscience (NASDAQ:NAGE) Given New $9.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity lowered Niagen Bioscience’s price target to $9.00 from $10.00 while maintaining a “buy” rating, implying approximately 286% upside from the reported $2.33 share price.
• Analyst sentiment remains broadly positive: Niagen has an average “Buy” rating and a consensus price target of $10.00, with ratings ranging from “Strong Buy” to “Hold.”
• Niagen reported quarterly EPS of $0.01, matching estimates, while revenue of $29.78 million fell slightly short of the $29.95 million consensus forecast; institutional investors own 15.41% of the company.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) had its price target cut by equities research analysts at Canaccord Genuity Group from $10.00 to $9.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 286.27% from the company's current price.

NAGE has been the subject of several other reports. Weiss Ratings restated a "hold (c)" rating on shares of Niagen Bioscience in a research report on Thursday, October 15th. Roth Capital reissued a "buy" rating on shares of Niagen Bioscience in a research note on Wednesday, August 5th. Finally, Freedom Capital upgraded Niagen Bioscience to a "strong-buy" rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Niagen Bioscience has an average rating of "Buy" and an average price target of $10.00.

Niagen Bioscience Stock Performance

Shares of NASDAQ:NAGE opened at $2.33 on Friday. The company has a fifty day moving average of $2.86 and a 200-day moving average of $3.93. The company has a market capitalization of $185.57 million, a PE ratio of 12.95 and a beta of 2.02. Niagen Bioscience has a 52-week low of $2.32 and a 52-week high of $7.95.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $29.78 million for the quarter, compared to analysts' expectations of $29.95 million. Niagen Bioscience had a return on equity of 17.95% and a net margin of 12.39%. On average, equities analysts forecast that Niagen Bioscience will post 0.10 EPS for the current fiscal year.

Institutional Investors Weigh In On Niagen Bioscience

Several large investors have recently modified their holdings of the company. SteelPeak Wealth LLC raised its position in shares of Niagen Bioscience by 2.2% in the 3rd quarter. SteelPeak Wealth LLC now owns 3,577,435 shares of the company's stock worth $10,446,000 after acquiring an additional 77,306 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Niagen Bioscience by 47.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,378,437 shares of the company's stock worth $10,489,000 after purchasing an additional 761,685 shares during the period. Tieton Capital Management LLC acquired a new stake in Niagen Bioscience in the second quarter worth $6,407,000. Renaissance Technologies LLC increased its stake in Niagen Bioscience by 45.4% in the first quarter. Renaissance Technologies LLC now owns 1,328,843 shares of the company's stock valued at $5,860,000 after purchasing an additional 414,725 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Niagen Bioscience by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,071,133 shares of the company's stock valued at $4,723,000 after purchasing an additional 150,763 shares in the last quarter. 15.41% of the stock is currently owned by institutional investors and hedge funds.

Niagen Bioscience Company Profile

Niagen Bioscience, Inc develops and commercializes science-based products designed to support healthy aging and cellular health. The company focuses on NAD+ biology, including nicotinamide riboside (NR), a form of vitamin B3 that serves as a precursor to NAD+, a coenzyme involved in cellular energy production and other biological processes.

Its principal consumer product is Tru Niagen, an NR-based dietary supplement sold through the company's direct-to-consumer website and retail and distribution channels.

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