Compugen (NASDAQ:CGEN) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Compugen beat quarterly expectations: The biotechnology company reported a loss of $0.07 per share, $0.01 better than analysts’ estimates, while revenue of $2.60 million more than doubled the $1.28 million consensus forecast.
• Shares opened at $2.35, near the company’s 50-day and 200-day moving averages, with a market capitalization of $222.2 million and a 52-week trading range of $1.29 to $3.23.
• Analyst sentiment remains mixed but leans positive: Compugen has a consensus “Moderate Buy” rating and an average price target of $5.00, despite ratings ranging from Sell to Strong Buy; institutional investors own 12.22% of the stock.

Compugen (NASDAQ:CGEN - Get Free Report) released its quarterly earnings results on Monday. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01, FiscalAI reports. The firm had revenue of $2.60 million for the quarter, compared to analyst estimates of $1.28 million. Compugen had a return on equity of 47.72% and a net margin of 47.97%.

Compugen Price Performance

Shares of NASDAQ:CGEN opened at $2.35 on Monday. The company has a market cap of $222.20 million, a P/E ratio of 6.35 and a beta of 2.76. Compugen has a 52 week low of $1.29 and a 52 week high of $3.23. The company has a 50-day moving average price of $2.27 and a 200 day moving average price of $2.26.

Hedge Funds Weigh In On Compugen

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGEN. XTX Topco Ltd purchased a new stake in shares of Compugen in the fourth quarter valued at approximately $104,000. Security National Bank of Sioux City Iowa IA purchased a new position in Compugen in the fourth quarter worth $38,000. Marshall Wace LLP lifted its holdings in Compugen by 135.7% in the fourth quarter. Marshall Wace LLP now owns 106,304 shares of the biotechnology company's stock valued at $163,000 after acquiring an additional 61,202 shares during the period. State Street Corp boosted its position in shares of Compugen by 3.9% during the 4th quarter. State Street Corp now owns 393,802 shares of the biotechnology company's stock worth $603,000 after purchasing an additional 14,701 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Compugen by 3.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,456,900 shares of the biotechnology company's stock worth $2,229,000 after purchasing an additional 51,565 shares in the last quarter. Institutional investors and hedge funds own 12.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CGEN shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Compugen in a research report on Friday, July 17th. Lake Street Capital began coverage on Compugen in a report on Tuesday, April 7th. They issued a "buy" rating and a $6.00 target price on the stock. Leerink Partners cut their price target on Compugen from $13.00 to $5.00 and set an "outperform" rating for the company in a research note on Thursday, May 21st. Finally, Wall Street Zen downgraded Compugen from a "buy" rating to a "hold" rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $5.00.

About Compugen

Compugen Ltd. NASDAQ: CGEN is a clinical-stage therapeutic discovery company that leverages proprietary computational discovery platforms to identify novel immuno-oncology targets and biomarkers. The company combines large-scale biological datasets with machine learning algorithms to generate and validate new therapeutic and diagnostic candidates. Founded in 1993 and headquartered in Tel Aviv, Israel, Compugen also maintains a presence in the United States to support its clinical development and commercial collaborations.

Compugen's predictive discovery engine scans complex biological systems in silico to reveal previously unrecognized pathways and immune checkpoints involved in cancer progression.

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