Niagen Bioscience (NASDAQ:NAGE) Shares Gap Up on Better-Than-Expected 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.

Shares of 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 traded.

The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. The business 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%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group lifted their price objective on Niagen Bioscience from $13.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Wall Street Zen cut shares of Niagen Bioscience from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. 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. Finally, HC Wainwright raised their price objective on Niagen Bioscience from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Monday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Niagen Bioscience presently has a consensus rating of "Buy" and a consensus target price of $13.42.

Institutional Investors Weigh In On Niagen Bioscience

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in Niagen Bioscience in the 4th quarter worth $39,000. Mercer Global Advisors Inc. ADV purchased a new stake in Niagen Bioscience in the fourth quarter valued at approximately $53,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Niagen Bioscience during the fourth quarter worth $67,000. ProShare Advisors LLC acquired a new position in Niagen Bioscience in the fourth quarter valued at $74,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in Niagen Bioscience during the fourth quarter worth about $94,000. 15.41% of the stock is currently owned by hedge funds and other institutional investors.

Niagen Bioscience Stock Up 0.4%

The stock's fifty day simple moving average is $11.77 and its 200-day simple moving average is $8.30. The company has a market capitalization of $779.16 million, a PE ratio of 46.53 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.