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

Key Points

• Niagen Bioscience, Inc. (NASDAQ:NAGE) has received an average consensus recommendation of "Buy" from five brokerages, with an average twelve-month price target of $13.42.
• Institutional investors have recently increased their stakes in Niagen Bioscience, including Deutsche Bank's impressive 1,733.4% increase in ownership.
• The company's latest earnings report showed a profit of $0.04 earnings per share, surpassing analysts' estimates, with a total revenue of $31.12 million.

Shares of Niagen Bioscience, Inc. (NASDAQ:NAGE - Get Free Report) have received an average rating of "Buy" from the five brokerages that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $13.42.

A number of brokerages have recently issued reports on NAGE. Wall Street Zen downgraded shares of Niagen Bioscience from a "strong-buy" rating to a "buy" rating in a report on Tuesday, September 9th. Roth Capital reiterated a "buy" rating and issued a $23.00 price objective (up previously from $10.00) on shares of Niagen Bioscience in a research note on Friday, June 6th. HC Wainwright increased their price objective on shares of Niagen Bioscience from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Finally, Canaccord Genuity Group increased their price objective on shares of Niagen Bioscience from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th.

Hedge Funds Weigh In On Niagen Bioscience

Institutional investors have recently made changes to their positions in the business. State of Wyoming bought a new position in shares of Niagen Bioscience in the 4th quarter worth approximately $39,000. ProShare Advisors LLC bought a new stake in Niagen Bioscience during the 4th quarter worth approximately $74,000. Deutsche Bank AG raised its stake in Niagen Bioscience by 1,733.4% during the 4th quarter. Deutsche Bank AG now owns 26,878 shares of the company's stock worth $143,000 after acquiring an additional 25,412 shares during the period. Bank of America Corp DE raised its stake in Niagen Bioscience by 89.5% during the 4th quarter. Bank of America Corp DE now owns 52,144 shares of the company's stock worth $277,000 after acquiring an additional 24,622 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Niagen Bioscience during the 4th quarter worth approximately $555,000. Institutional investors own 15.41% of the company's stock.

Niagen Bioscience Stock Up 3.7%

Shares of NASDAQ NAGE opened at $9.76 on Friday. The firm's 50-day moving average price is $9.70 and its 200-day moving average price is $9.35. The company has a market cap of $778.36 million, a PE ratio of 46.48 and a beta of 2.21. Niagen Bioscience has a 52-week low of $3.18 and a 52-week high of $14.69.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The firm had revenue of $31.12 million for the quarter, compared to the consensus estimate of $28.55 million. Niagen Bioscience had a net margin of 15.24% and a return on equity of 23.12%.

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.

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