Niagen Bioscience (NASDAQ:NAGE) Announces Quarterly Earnings Results, Meets Expectations

Key Points

• Niagen Bioscience met earnings expectations, reporting quarterly EPS of $0.01, in line with the consensus estimate. The company posted a 14.29% net margin and a 22.68% return on equity.
• NAGE shares traded at $3.47, near the company’s 52-week low of $3.12 and well below its 52-week high of $11.29. The stock has a market capitalization of approximately $276 million.
• Analyst sentiment remains generally positive, with an average rating of “Buy” and an average price target of $10.50, despite some hold ratings and a reduced price target from Canaccord Genuity. Institutional investors own 15.41% of the stock.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01, Zacks reports. Niagen Bioscience had a net margin of 14.29% and a return on equity of 22.68%.

Niagen Bioscience Stock Performance

Shares of NASDAQ NAGE traded down $0.06 during mid-day trading on Tuesday, reaching $3.47. 1,028,252 shares of the company's stock were exchanged, compared to its average volume of 979,671. The company's 50-day moving average is $3.44 and its 200-day moving average is $4.39. Niagen Bioscience has a 52-week low of $3.12 and a 52-week high of $11.29. The firm has a market capitalization of $276.35 million, a price-to-earnings ratio of 16.52 and a beta of 2.09.

Institutional Investors Weigh In On Niagen Bioscience

A number of institutional investors have recently made changes to their positions in NAGE. Swiss National Bank raised its position in Niagen Bioscience by 3.0% in the fourth quarter. Swiss National Bank now owns 110,100 shares of the company's stock valued at $700,000 after purchasing an additional 3,200 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Niagen Bioscience by 5.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 60,342 shares of the company's stock worth $384,000 after buying an additional 3,215 shares during the period. Wells Fargo & Company MN grew its stake in shares of Niagen Bioscience by 6.9% in the fourth quarter. Wells Fargo & Company MN now owns 58,337 shares of the company's stock valued at $371,000 after buying an additional 3,740 shares in the last quarter. Franklin Resources Inc. lifted its stake in Niagen Bioscience by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 106,106 shares of the company's stock worth $675,000 after acquiring an additional 4,623 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Niagen Bioscience by 27.2% during the 4th quarter. Osaic Holdings Inc. now owns 22,361 shares of the company's stock valued at $142,000 after acquiring an additional 4,784 shares during the period. 15.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NAGE shares. HC Wainwright restated a "buy" rating on shares of Niagen Bioscience in a report on Wednesday, July 1st. Freedom Capital raised Niagen Bioscience to a "strong-buy" rating in a report on Monday, July 6th. Wall Street Zen downgraded Niagen Bioscience from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Canaccord Genuity Group lowered 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. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Niagen Bioscience in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $10.50.

Niagen Bioscience Company Profile

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.

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