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

Key Points

• Niagen Bioscience has a consensus “Buy” rating from five covering analysts, including three buys and one strong buy. The average 12-month price target is $10.33, though Canaccord recently lowered its target to $10 from $13.
• NAGE shares fell $0.41 to $3.06, near their 52-week low of $2.87 and below both their 50-day and 200-day moving averages.
• The company reported quarterly EPS of $0.01, matching estimates, while revenue of $29.78 million was slightly below the $29.95 million forecast. Institutional investors own 15.41% of the stock.

Niagen Bioscience, Inc. (NASDAQ:NAGE - Get Free Report) has received a consensus recommendation of "Buy" from the five ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.3333.

Several brokerages recently weighed in on NAGE. Wall Street Zen downgraded shares of Niagen Bioscience from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Roth Capital restated a "buy" rating on shares of Niagen Bioscience in a research note on Wednesday. Canaccord Genuity Group reduced their price objective on Niagen Bioscience from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. HC Wainwright reissued a "buy" rating on shares of Niagen Bioscience in a research note on Wednesday, July 1st. Finally, Freedom Capital upgraded Niagen Bioscience to a "strong-buy" rating in a report on Monday, July 6th.

Niagen Bioscience Stock Performance

Shares of NASDAQ NAGE traded down $0.41 during trading on Wednesday, reaching $3.06. The stock had a trading volume of 393,406 shares, compared to its average volume of 975,312. Niagen Bioscience has a fifty-two week low of $2.87 and a fifty-two week high of $11.29. The business's 50-day moving average price is $3.43 and its 200-day moving average price is $4.37. The company has a market cap of $243.71 million, a P/E ratio of 14.57 and a beta of 2.09.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $29.78 million for the quarter, compared to analyst estimates of $29.95 million. Niagen Bioscience had a net margin of 14.29% and a return on equity of 22.68%. Analysts forecast that Niagen Bioscience will post 0.21 EPS for the current fiscal year.

Institutional Trading of Niagen Bioscience

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in Niagen Bioscience in the third quarter valued at approximately $3,678,000. Vanguard Group Inc. purchased a new stake in shares of Niagen Bioscience in the 3rd quarter valued at approximately $37,522,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Niagen Bioscience in the 3rd quarter valued at $45,000. Intech Investment Management LLC acquired a new stake in shares of Niagen Bioscience in the 3rd quarter valued at $202,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Niagen Bioscience during the 3rd quarter worth $48,000. 15.41% of the stock is currently owned by hedge funds and other institutional investors.

About Niagen Bioscience

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