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 downgraded 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 equities research analysts have also recently commented on the stock. Canaccord Genuity Group increased their target price 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 increased their target price on shares of Niagen Bioscience from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Finally, Roth Capital reissued a "buy" rating and set a $23.00 target price (up previously from $10.00) on shares of Niagen Bioscience in a research report on Friday, June 6th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $13.42.

Niagen Bioscience Trading Up 0.8%

Shares of NAGE traded up $0.08 during mid-day trading on Friday, hitting $9.90. The company's stock had a trading volume of 768,603 shares, compared to its average volume of 1,133,902. The company's 50-day moving average is $10.79 and its 200-day moving average is $8.70. Niagen Bioscience has a 52-week low of $3.10 and a 52-week high of $14.69. The firm has a market capitalization of $789.53 million, a price-to-earnings ratio of 47.15 and a beta of 2.12.

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

Institutional Trading of Niagen Bioscience

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in shares of Niagen Bioscience in the fourth quarter worth about $39,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Niagen Bioscience in the fourth quarter worth about $53,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Niagen Bioscience in the fourth quarter worth about $67,000. ProShare Advisors LLC purchased a new position in shares of Niagen Bioscience in the fourth quarter worth about $74,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Niagen Bioscience in the fourth quarter worth about $94,000. Institutional investors and hedge funds 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.