Neurogene Inc. (NASDAQ:NGNE) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Neurogene Inc. (NASDAQ:NGNE) has received a consensus rating of "Moderate Buy", with 6 analysts recommending buy and 2 recommending hold.
• The company's average 12-month price target among brokers stands at $46.17, despite recent downgrades affecting its stock ratings and price objectives.
• Neurogene aims to develop genetic medicines for rare neurological diseases, currently with candidates in clinical trials for conditions such as Rett syndrome and CLN5 Batten disease.

Neurogene Inc. (NASDAQ:NGNE - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $46.1667.

NGNE has been the topic of several recent research reports. Baird R W downgraded Neurogene from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Robert W. Baird downgraded Neurogene from an "outperform" rating to a "neutral" rating and lowered their price objective for the stock from $38.00 to $24.00 in a research report on Friday, May 16th. Craig Hallum initiated coverage on Neurogene in a research note on Tuesday, June 17th. They issued a "buy" rating and a $50.00 price objective on the stock. HC Wainwright decreased their target price on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, BMO Capital Markets restated an "outperform" rating and set a $26.00 price target (up previously from $22.00) on shares of Neurogene in a report on Thursday, June 12th.

Institutional Investors Weigh In On Neurogene

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Neurogene by 2,985.1% in the 1st quarter. GAMMA Investing LLC now owns 4,134 shares of the company's stock valued at $48,000 after purchasing an additional 4,000 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Neurogene by 43.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,055 shares of the company's stock valued at $61,000 after purchasing an additional 1,232 shares during the last quarter. Corebridge Financial Inc. boosted its stake in shares of Neurogene by 13.8% in the 1st quarter. Corebridge Financial Inc. now owns 5,826 shares of the company's stock valued at $68,000 after purchasing an additional 705 shares during the last quarter. Virtus ETF Advisers LLC boosted its stake in shares of Neurogene by 45.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock valued at $73,000 after purchasing an additional 989 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Neurogene in the 1st quarter valued at $77,000. 52.37% of the stock is owned by institutional investors.

Neurogene Trading Up 0.7%

NGNE opened at $19.75 on Friday. The company's 50 day moving average is $20.27 and its 200-day moving average is $17.39. Neurogene has a 1-year low of $6.88 and a 1-year high of $74.49. The company has a market cap of $281.83 million, a P/E ratio of -4.58 and a beta of 1.69.

Neurogene (NASDAQ:NGNE - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($1.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.15) by $0.10. On average, equities analysts forecast that Neurogene will post -4.27 EPS for the current year.

Neurogene Company Profile

Neurogene Inc, a biotechnology company, develops genetic medicines for rare neurological diseases. The company's product candidates include NGN-401 which is packaged in an adeno-associated virus 9 that is in Phase 1/2 clinical trial for the treatment of Rett syndrome; and NGN-101, a conventional gene therapy candidate that is in Phase 1/2 clinical trial to treat CLN5 Batten disease.

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