enGene (NASDAQ:ENGN) Price Target Lowered to $30.00 at Oppenheimer

Key Points

• Oppenheimer cut its price target on enGene to $30 (from $33) but kept an "outperform" rating, with that target implying a potential upside of 336.68% from the prior close.
• Analyst consensus is a Moderate Buy with a mean target of $22.86; most firms hold Buy/Outperform views (1 Strong Buy, 7 Buy, 1 Hold, 1 Sell) though individual targets vary widely.
• ENGN trades at $6.87, below its 50- and 200-day moving averages, carries negative EPS as a clinical-stage biotech, and has seen sizable institutional accumulation (institutional ownership ~64.16%).

enGene (NASDAQ:ENGN - Get Free Report) had its price target cut by equities research analysts at Oppenheimer from $33.00 to $30.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's target price suggests a potential upside of 336.68% from the company's previous close.

Several other research firms have also recently weighed in on ENGN. Morgan Stanley boosted their price target on enGene from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 12th. Citizens Jmp lifted their target price on enGene from $18.00 to $21.00 and gave the company a "market outperform" rating in a research report on Wednesday, November 12th. Guggenheim restated a "buy" rating on shares of enGene in a research report on Tuesday. UBS Group lifted their price objective on shares of enGene from $4.00 to $10.00 and gave the company a "neutral" rating in a research report on Wednesday, November 12th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of enGene in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.86.

enGene Stock Down 1.0%

ENGN traded down $0.07 during trading on Wednesday, reaching $6.87. The stock had a trading volume of 580,168 shares, compared to its average volume of 418,494. The stock's 50 day moving average is $9.50 and its two-hundred day moving average is $8.11. The company has a current ratio of 6.30, a quick ratio of 6.30 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $460.22 million, a price-to-earnings ratio of -3.06 and a beta of -0.29. enGene has a one year low of $2.65 and a one year high of $12.25.

enGene (NASDAQ:ENGN - Get Free Report) last announced its earnings results on Monday, March 9th. The company reported ($0.44) EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $0.11. As a group, analysts expect that enGene will post -1.56 earnings per share for the current year.

Hedge Funds Weigh In On enGene

Large investors have recently bought and sold shares of the business. Perceptive Advisors LLC lifted its position in enGene by 179.8% during the fourth quarter. Perceptive Advisors LLC now owns 5,869,076 shares of the company's stock valued at $52,998,000 after purchasing an additional 3,771,840 shares during the period. Cormorant Asset Management LP lifted its position in shares of enGene by 72.1% during the 4th quarter. Cormorant Asset Management LP now owns 4,000,000 shares of the company's stock valued at $36,120,000 after buying an additional 1,676,405 shares in the last quarter. Blue Owl Capital Holdings LP grew its position in shares of enGene by 2.5% in the fourth quarter. Blue Owl Capital Holdings LP now owns 3,360,937 shares of the company's stock valued at $30,349,000 after purchasing an additional 82,831 shares during the period. Siren L.L.C. purchased a new stake in shares of enGene during the fourth quarter worth $30,126,000. Finally, Braidwell LP raised its holdings in enGene by 38.2% in the 4th quarter. Braidwell LP now owns 3,131,319 shares of the company's stock valued at $28,276,000 after acquiring an additional 865,000 shares during the last quarter. Institutional investors own 64.16% of the company's stock.

About enGene

enGene, Inc is a clinical‐stage biopharmaceutical company focused on the development of gene‐based therapeutics for oncology. The company’s core technology is the EnGene Delivery Vehicle (EDV) platform, which employs nonliving, bacterially derived minicells to transport therapeutic payloads directly to tumor cells. By combining targeted delivery with potent payloads, enGene aims to improve the precision and efficacy of cancer treatments while reducing off‐target toxicity.

Through its EDV platform, enGene has advanced multiple therapeutic candidates into preclinical and clinical stages.

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.