Neurogene Inc. (NASDAQ:NGNE) Stock Rated "Buy" by Sell-Side Brokerages

Key Points

• Neurogene has an average “Buy” rating from eight analysts, with five buys, two strong buys, and one sell. The average 12-month price target is $80.29.
• Analysts recently issued mixed updates, including JPMorgan’s new “overweight” rating with a $60 target, Guggenheim’s raised $81 target, and Wall Street Zen’s downgrade to “strong sell.”
• Neurogene shares opened at $25.40, below their 50-day and 200-day moving averages, while the company reported a quarterly EPS loss of $1.53 that missed estimates. Institutional investors own 52.37% of the stock.

Shares of Neurogene Inc. (NASDAQ:NGNE - Get Free Report) have earned an average recommendation of "Buy" from the eight ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $80.29.

Several research analysts recently commented on the company. Wall Street Zen cut Neurogene from a "sell" rating to a "strong sell" rating in a research note on Saturday, October 10th. HC Wainwright reduced their price objective on Neurogene from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. JPMorgan Chase & Co. began coverage on Neurogene in a research note on Thursday, October 8th. They issued an "overweight" rating and a $60.00 price objective on the stock. Guggenheim lifted their price target on shares of Neurogene from $69.00 to $81.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Finally, William Blair upgraded Neurogene to a "strong-buy" rating in a report on Wednesday, September 23rd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. State of Wyoming acquired a new stake in shares of Neurogene in the 2nd quarter valued at $31,000. Legal & General Group Plc acquired a new position in Neurogene during the second quarter valued at approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Neurogene during the 2nd quarter worth $192,000. ADAR1 Capital Management LLC acquired a new position in shares of Neurogene in the 2nd quarter valued at approximately $245,000. Finally, Pale Fire Capital SE acquired a new stake in shares of Neurogene during the second quarter worth $298,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Neurogene Stock Performance

NGNE opened at $25.40 on Wednesday. The business's fifty day moving average is $32.45 and its two-hundred day moving average is $31.08. Neurogene has a one year low of $15.93 and a one year high of $43.66. The company has a market cap of $508.25 million, a price-to-earnings ratio of -5.05 and a beta of 1.70.

Neurogene (NASDAQ:NGNE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($1.53) earnings per share for the quarter, missing analysts' consensus estimates of ($1.42) by ($0.11). On average, analysts predict that Neurogene will post -5.88 EPS for the current fiscal year.

Neurogene Company Profile

Neurogene Inc is a clinical-stage biotechnology company focused on developing genetic medicines for patients with rare and devastating neurological diseases. The company's work centers on gene therapies designed to address severe neurodevelopmental and neurodegenerative disorders for which treatment options are limited.

Neurogene's pipeline includes NGN-401, an investigational gene therapy being developed for Rett syndrome, and NGN-101, an investigational therapy targeting CLN5 disease, a form of neuronal ceroid lipofuscinosis also known as Batten disease.

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