Morgan Stanley Has Lowered Expectations for enGene (NASDAQ:ENGN) Stock Price

Key Points

• Morgan Stanley has lowered its price target for enGene (NASDAQ:ENGN) from $19.00 to $18.00, while maintaining an "overweight" rating, suggesting a potential upside of 202.52%.
• HC Wainwright restated a "buy" rating for enGene with a price target of $25.00, while the consensus rating for the stock remains "Buy" with an average target price of $21.00.
• enGene's stock performance shows a current trading price of $5.95, with a market cap of $304.05 million, following a recent report of quarterly earnings missing the consensus estimate.

enGene (NASDAQ:ENGN - Get Free Report) had its price objective reduced by stock analysts at Morgan Stanley from $19.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 202.52% from the stock's previous close.

Separately, HC Wainwright restated a "buy" rating and issued a $25.00 price target on shares of enGene in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $21.00.

enGene Stock Performance

ENGN traded down $0.11 on Friday, hitting $5.95. 30,995 shares of the company's stock were exchanged, compared to its average volume of 101,574. The firm has a market cap of $304.05 million, a PE ratio of -3.61 and a beta of -0.39. enGene has a twelve month low of $2.65 and a twelve month high of $11.00. The stock has a fifty day moving average of $4.09 and a two-hundred day moving average of $4.13. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.09.

enGene (NASDAQ:ENGN - Get Free Report) last released its quarterly earnings data on Thursday, September 11th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.06). On average, research analysts anticipate that enGene will post -1.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. VR Adviser LLC grew its position in enGene by 41.5% in the 4th quarter. VR Adviser LLC now owns 5,046,414 shares of the company's stock worth $33,559,000 after purchasing an additional 1,480,573 shares during the last quarter. Toronto Dominion Bank acquired a new stake in enGene in the 4th quarter worth $97,000. Sphera Funds Management LTD. acquired a new stake in enGene in the 4th quarter worth $3,724,000. Vestal Point Capital LP acquired a new stake in enGene in the 4th quarter worth $2,460,000. Finally, Adage Capital Partners GP L.L.C. grew its position in enGene by 2.7% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,571,642 shares of the company's stock worth $7,041,000 after purchasing an additional 41,874 shares during the last quarter. Institutional investors own 64.16% of the company's stock.

enGene Company Profile

enGene Holdings Inc, through its subsidiary enGene, Inc, operates as a clinical-stage biotechnology company that develops genetic medicines through the delivery of therapeutics to mucosal tissues and other organs. Its lead product candidate is EG-70 (detalimogene voraplasmid), which is a non-viral immunotherapy to treat non-muscle invasive bladder cancer patients with carcinoma-in-situ (Cis), who are unresponsive to treatment with Bacillus Calmette-Guérin.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.