Compugen Ltd. (NASDAQ:CGEN) Given Average Recommendation of "Buy" by Analysts

Key Points

• Analysts give Compugen an average “Buy” rating: Three analysts rate the stock a buy, one a strong buy and one a hold, with an average 12-month price target of $5.00.
• Institutional investors and hedge funds own 12.22% of Compugen, with Renaissance Technologies increasing its stake by 12.1% and WINTON GROUP raising its holdings by 26.0%.
• Compugen shares recently traded at $2.49, up 2.5%, while the company’s latest quarterly results beat expectations with an adjusted loss of $0.07 per share versus the $0.08 consensus estimate and revenue of $2.60 million versus $1.28 million expected.

Shares of Compugen Ltd. (NASDAQ:CGEN - Get Free Report) have earned an average rating of "Buy" from the five research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $5.00.

Several equities analysts have recently issued reports on CGEN shares. HC Wainwright restated a "buy" rating on shares of Compugen in a report on Tuesday, August 4th. Weiss Ratings raised shares of Compugen from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th.

Hedge Funds Weigh In On Compugen

Several hedge funds have recently made changes to their positions in CGEN. Renaissance Technologies LLC raised its stake in shares of Compugen by 12.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,632,988 shares of the biotechnology company's stock valued at $3,478,000 after buying an additional 176,088 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Compugen during the second quarter worth about $110,000. WINTON GROUP Ltd grew its holdings in Compugen by 26.0% during the second quarter. WINTON GROUP Ltd now owns 197,110 shares of the biotechnology company's stock worth $422,000 after acquiring an additional 40,614 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Compugen during the first quarter valued at approximately $68,000. Finally, Calamos Advisors LLC purchased a new position in Compugen during the first quarter valued at approximately $63,000. 12.22% of the stock is owned by institutional investors and hedge funds.

Compugen Trading Up 2.5%

Shares of CGEN stock opened at $2.49 on Wednesday. Compugen has a 12-month low of $1.37 and a 12-month high of $3.23. The business's fifty day simple moving average is $2.46 and its 200-day simple moving average is $2.42. The company has a market cap of $235.43 million, a PE ratio of 6.55 and a beta of 2.78.

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

About Compugen

Compugen Ltd. is an Israeli clinical-stage biopharmaceutical company focused on discovering and developing therapeutics for cancer and other serious diseases. The company uses computational biology, data analysis and related technologies to identify novel drug targets and develop antibody-based medicines, with an emphasis on immuno-oncology.

Compugen's pipeline includes investigational immune checkpoint therapies designed to reactivate anti-tumor immune responses. Its leading programs have included COM701, an antibody targeting PVRIG, and COM902, an antibody targeting TIGIT.

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