Inogen (NASDAQ:INGN) Upgraded by Needham & Company LLC to "Moderate Buy" Rating

Inogen (NASDAQ:INGN - Get Free Report) was upgraded by equities research analysts at Needham & Company LLC from a "hold" rating to a "moderate buy" rating in a note issued to investors on Thursday, MarketBeat.com reports. The firm presently has a $12.00 price objective on the medical technology company's stock. Needham & Company LLC's price target would suggest a potential upside of 77.78% from the company's previous close.

A number of other equities analysts have also commented on INGN. Wall Street Zen lowered shares of Inogen from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their target price on shares of Inogen from $10.00 to $7.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th.

Inogen Stock Up 13.3%

Inogen stock opened at $6.75 on Thursday. The stock has a market cap of $181.49 million, a P/E ratio of -3.00 and a beta of 1.63. Inogen has a 12 month low of $5.70 and a 12 month high of $13.33. The company's fifty day simple moving average is $6.89 and its 200-day simple moving average is $8.72.

Inogen (NASDAQ:INGN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The medical technology company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.27. Inogen had a negative return on equity of 27.38% and a negative net margin of 15.89%. The business had revenue of $82.28 million for the quarter, compared to the consensus estimate of $79.57 million. On average, equities research analysts expect that Inogen will post -1.73 earnings per share for the current fiscal year.

Institutional Trading of Inogen

Several hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC bought a new position in Inogen in the 4th quarter worth approximately $43,000. Meeder Asset Management Inc. acquired a new stake in shares of Inogen in the fourth quarter worth $56,000. Integrated Wealth Concepts LLC bought a new position in Inogen during the first quarter worth $85,000. Algert Global LLC acquired a new position in Inogen during the 1st quarter valued at $89,000. Finally, Integrated Quantitative Investments LLC bought a new position in Inogen in the fourth quarter worth $92,000. Institutional investors own 89.94% of the company's stock.

About Inogen

Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to patients, physicians and other clinicians, and third-party payors in the United States and internationally. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.