Niagen Bioscience (NASDAQ:NAGE) Shares Gap Up Following Strong Earnings

Key Points

• Niagen Bioscience (NASDAQ:NAGE) shares surged from a closing price of $9.40 to an opening price of $11.20 following a strong earnings report, with the company reporting $0.04 earnings per share (EPS) against expectations of $0.02.
• The company's revenue for the quarter reached $31.12 million, exceeding analysts' forecasts of $28.55 million, while analysts have set new price targets with Roth Capital raising it to $23.00.
• Institutional investors have shown strong interest in Niagen Bioscience, with notable increases in holdings, including a 288.1% increase by Arrowstreet Capital, reflecting confidence in the firm's performance and potential.

Niagen Bioscience, Inc. (NASDAQ:NAGE - Get Free Report) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $9.40, but opened at $11.20. Niagen Bioscience shares last traded at $9.87, with a volume of 1,086,002 shares changing hands.

The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. Niagen Bioscience had a net margin of 13.07% and a return on equity of 19.06%. The firm had revenue of $31.12 million for the quarter, compared to analysts' expectations of $28.55 million.

Analysts Set New Price Targets

A number of research firms recently issued reports on NAGE. Roth Capital reissued a "buy" rating and issued a $23.00 price target (up previously from $10.00) on shares of Niagen Bioscience in a research note on Friday, June 6th. Wall Street Zen cut shares of Niagen Bioscience from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Canaccord Genuity Group lifted their target price 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Niagen Bioscience currently has a consensus rating of "Buy" and an average price target of $13.22.

Institutional Investors Weigh In On Niagen Bioscience

Several institutional investors and hedge funds have recently added to or reduced their stakes in NAGE. Prudential Financial Inc. raised its holdings in shares of Niagen Bioscience by 247.2% during the 4th quarter. Prudential Financial Inc. now owns 79,215 shares of the company's stock worth $420,000 after acquiring an additional 56,400 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Niagen Bioscience by 2.8% during the 4th quarter. JPMorgan Chase & Co. now owns 341,221 shares of the company's stock worth $1,810,000 after acquiring an additional 9,305 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Niagen Bioscience by 288.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 662,956 shares of the company's stock worth $3,517,000 after acquiring an additional 492,148 shares during the period. Geode Capital Management LLC raised its holdings in shares of Niagen Bioscience by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,154,778 shares of the company's stock worth $6,128,000 after acquiring an additional 5,186 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of Niagen Bioscience during the 4th quarter worth $144,000. Institutional investors and hedge funds own 15.41% of the company's stock.

Niagen Bioscience Trading Up 2.3%

The firm has a fifty day moving average price of $11.81 and a 200 day moving average price of $8.25. The firm has a market cap of $757.77 million, a PE ratio of 56.59 and a beta of 2.12.

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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