Niagen Bioscience (NASDAQ:NAGE) Cut to "Buy" at Wall Street Zen

Key Points

• Niagen Bioscience has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, indicating a more cautious outlook from analysts.
• Despite the downgrade, analysts from Canaccord Genuity and Roth Capital have set price targets of **$16.00** and **$23.00** respectively, signaling potential growth for the stock.
• The company recently saw a **3.3% decline** in its stock price, opening at **$9.04** while having a market capitalization of approximately **$712 million**.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group raised their price objective on shares of Niagen Bioscience from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Roth Capital reissued a "buy" rating and issued a $23.00 price objective (up previously from $10.00) on shares of Niagen Bioscience in a report on Friday, June 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Niagen Bioscience presently has an average rating of "Buy" and a consensus target price of $13.22.

Niagen Bioscience Stock Down 3.3%

Shares of NAGE stock opened at $9.04 on Friday. The company has a 50 day moving average price of $11.88 and a 200-day moving average price of $8.23. Niagen Bioscience has a 52 week low of $2.53 and a 52 week high of $14.69. The firm has a market capitalization of $712.08 million, a PE ratio of 53.18 and a beta of 2.13.

Hedge Funds Weigh In On Niagen Bioscience

Large investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in Niagen Bioscience during the fourth quarter valued at approximately $39,000. Mercer Global Advisors Inc. ADV purchased a new position in Niagen Bioscience during the fourth quarter valued at approximately $53,000. Schonfeld Strategic Advisors LLC purchased a new position in Niagen Bioscience during the fourth quarter valued at approximately $67,000. ProShare Advisors LLC purchased a new position in Niagen Bioscience during the fourth quarter valued at approximately $74,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in Niagen Bioscience during the fourth quarter valued at approximately $94,000. Hedge funds and other institutional investors own 15.41% of the company's stock.

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.

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