Compugen (NASDAQ:CGEN) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Compugen shares crossed above their 200-day moving average, reaching $2.77 before last trading at $2.62, compared with the $2.30 200-day average.
• Analyst sentiment remains generally positive, with a consensus “Buy” rating and an average price target of $5.00, although Leerink Partners cut its target from $13 to $5 and another firm downgraded the stock to “Hold.”
• Compugen reported quarterly revenue of $2.60 million and an adjusted loss of $0.07 per share, beating analyst expectations of $1.28 million in revenue and a $0.08-per-share loss.

Shares of Compugen Ltd. (NASDAQ:CGEN - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.30 and traded as high as $2.77. Compugen shares last traded at $2.62, with a volume of 447,159 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CGEN. HC Wainwright reaffirmed a "buy" rating on shares of Compugen in a report on Tuesday, August 4th. Wall Street Zen cut Compugen from a "buy" rating to a "hold" rating in a report on Saturday, May 23rd. Leerink Partners decreased their price target on Compugen from $13.00 to $5.00 and set an "outperform" rating on the stock in a research report on Thursday, May 21st. Finally, Weiss Ratings upgraded Compugen from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Compugen has a consensus rating of "Buy" and an average price target of $5.00.

Compugen Trading Down 1.1%

The company has a market capitalization of $247.72 million, a P/E ratio of 6.89 and a beta of 2.77. The business's fifty day moving average price is $2.29 and its 200-day moving average price is $2.30.

Compugen (NASDAQ:CGEN - Get Free Report) last released its earnings results on Monday, August 3rd. The biotechnology company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. Compugen had a return on equity of 42.57% and a net margin of 47.56%.The business had revenue of $2.60 million for the quarter, compared to analysts' expectations of $1.28 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. As a group, equities research analysts forecast that Compugen Ltd. will post -0.27 EPS for the current year.

Hedge Funds Weigh In On Compugen

A number of large investors have recently modified their holdings of the company. Platform Technology Partners boosted its stake in Compugen by 10.0% in the first quarter. Platform Technology Partners now owns 55,000 shares of the biotechnology company's stock worth $117,000 after buying an additional 5,000 shares in the last quarter. State Street Corp grew its position in Compugen by 3.9% during the fourth quarter. State Street Corp now owns 393,802 shares of the biotechnology company's stock valued at $603,000 after acquiring an additional 14,701 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Compugen by 10.6% during the third quarter. Two Sigma Investments LP now owns 197,875 shares of the biotechnology company's stock worth $291,000 after acquiring an additional 18,929 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Compugen by 187.5% during the first quarter. Glenmede Trust Co. NA now owns 34,500 shares of the biotechnology company's stock worth $73,000 after acquiring an additional 22,500 shares in the last quarter. Finally, Bank Hapoalim BM purchased a new position in shares of Compugen during the fourth quarter worth approximately $37,000. 12.22% of the stock is owned by hedge funds and other institutional investors.

Compugen Company Profile

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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