Niagen Bioscience, Inc. (NASDAQ:NAGE) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Analysts maintain a bullish outlook: Five firms give Niagen Bioscience an average “Buy” rating, including three buys and one strong buy. The average 12-month price target is $10.33.
• Shares remain well below recent highs: NAGE opened at $3.29, near its 52-week low of $2.87 and far below its 52-week high of $10.52. Canaccord recently lowered its target from $13 to $10 while retaining a buy rating.
• Quarterly results met expectations: The company reported earnings of $0.01 per share, matching consensus, while revenue of $29.78 million slightly missed the $29.95 million estimate. Institutional investors own 15.41% of the stock.

Shares of Niagen Bioscience, Inc. (NASDAQ:NAGE - Get Free Report) have received an average recommendation of "Buy" from the five research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $10.3333.

A number of brokerages have recently issued reports on NAGE. Freedom Capital upgraded shares of Niagen Bioscience to a "strong-buy" rating in a report on Monday, July 6th. Roth Capital reiterated a "buy" rating on shares of Niagen Bioscience in a report on Wednesday, August 5th. HC Wainwright reiterated a "buy" rating on shares of Niagen Bioscience in a research report on Wednesday, July 1st. Canaccord Genuity Group cut their target price on Niagen Bioscience from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Tuesday, May 5th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Niagen Bioscience in a research note on Friday, July 17th.

Niagen Bioscience Stock Up 2.5%

Shares of NASDAQ:NAGE opened at $3.29 on Friday. The business has a fifty day moving average of $3.28 and a two-hundred day moving average of $4.02. The stock has a market cap of $262.02 million, a P/E ratio of 18.28 and a beta of 2.09. Niagen Bioscience has a 52-week low of $2.87 and a 52-week high of $10.52.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $29.78 million for the quarter, compared to the consensus estimate of $29.95 million. Niagen Bioscience had a net margin of 12.39% and a return on equity of 17.95%. On average, equities analysts anticipate that Niagen Bioscience will post 0.13 earnings per share for the current year.

Institutional Trading of Niagen Bioscience

A number of hedge funds and other institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System purchased a new stake in Niagen Bioscience in the 4th quarter valued at about $30,000. Ameritas Investment Partners Inc. purchased a new position in Niagen Bioscience during the third quarter worth about $45,000. Quantbot Technologies LP purchased a new position in Niagen Bioscience during the third quarter worth about $48,000. Polymer Capital Management US LLC acquired a new stake in shares of Niagen Bioscience during the third quarter valued at about $96,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Niagen Bioscience during the third quarter valued at about $96,000. 15.41% of the stock is owned by institutional investors and hedge funds.

Niagen Bioscience Company Profile

Niagen Bioscience, Inc is a global bioscience company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It is pioneering research on nicotinamide adenine dinucleotide (NAD+). The company's patent portfolio includes Nicotinamide Riboside (NR) and other NAD+ precursors, which are commercialized as the flagship ingredient Niagen. It operates through the following segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source