Niagen Bioscience (NASDAQ:NAGE) Stock Rating Lowered by Wall Street Zen

Key Points

• Niagen Bioscience's stock rating was downgraded from a "strong-buy" to a "buy" by Wall Street Zen, reflecting a change in analyst sentiment.
• HC Wainwright raised its target price for Niagen Bioscience from $11.00 to $12.00, while Roth Capital set a significantly higher target price of $23.00, indicating positive growth expectations.
• The company reported $31.12 million in revenue for the last quarter, exceeding analyst estimates, and posted an earnings per share (EPS) of $0.04, beating expectations by $0.02.

Wall Street Zen lowered shares of Niagen Bioscience (NASDAQ:NAGE - Free Report) from a strong-buy rating to a buy rating in a report issued on Sunday morning.

A number of other analysts also recently weighed in on NAGE. Canaccord Genuity Group increased their price target on shares of Niagen Bioscience from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. HC Wainwright raised their price objective on shares of Niagen Bioscience from $11.00 to $12.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, Roth Capital reaffirmed a "buy" rating and set a $23.00 price objective (up previously from $10.00) on shares of Niagen Bioscience in a research report on Friday, June 6th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $13.42.

Niagen Bioscience Stock Up 0.1%

NASDAQ NAGE traded up $0.01 during trading hours on Friday, hitting $10.04. 1,524,947 shares of the stock were exchanged, compared to its average volume of 1,149,960. The stock has a 50-day moving average of $11.02 and a 200 day moving average of $8.63. The company has a market cap of $800.69 million, a price-to-earnings ratio of 77.15 and a beta of 2.12. Niagen Bioscience has a 12-month low of $3.10 and a 12-month high of $14.69.

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

Institutional Investors Weigh In On Niagen Bioscience

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in Niagen Bioscience by 42.1% during the 4th quarter. Wells Fargo & Company MN now owns 23,137 shares of the company's stock valued at $123,000 after buying an additional 6,856 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Niagen Bioscience during the fourth quarter worth approximately $818,000. Barclays PLC raised its position in Niagen Bioscience by 13.8% in the fourth quarter. Barclays PLC now owns 79,773 shares of the company's stock valued at $423,000 after purchasing an additional 9,701 shares during the period. XTX Topco Ltd purchased a new stake in Niagen Bioscience in the fourth quarter valued at $120,000. Finally, Walleye Capital LLC purchased a new stake in shares of Niagen Bioscience in the 4th quarter valued at $215,000. 15.41% of the stock is currently owned by hedge funds and other institutional investors.

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.