Niagen Bioscience (NASDAQ:NAGE) Upgraded to Strong-Buy at Wall Street Zen

Key Points

• Niagen Bioscience has been upgraded to a "strong-buy" rating by Wall Street Zen, reflecting increasing confidence in the company's stock.
• Analysts have also raised their target prices for the stock, with HC Wainwright setting a price target of $12 and Roth Capital adjusting theirs to $23.
• The company reported earnings of $0.04 per share for the last quarter, exceeding analysts' expectations and generating revenue of $31.12 million.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Monday.

Other equities research analysts have also issued reports about the stock. HC Wainwright boosted their target price on shares of Niagen Bioscience from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Roth Capital restated a "buy" rating and set a $23.00 target price (up from $10.00) on shares of Niagen Bioscience in a research report on Friday, June 6th. Finally, Canaccord Genuity Group boosted their target price on shares of Niagen Bioscience from $13.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Niagen Bioscience presently has an average rating of "Buy" and an average price target of $13.42.

Niagen Bioscience Trading Up 0.8%

Shares of NAGE opened at $9.90 on Monday. The firm has a market cap of $789.53 million, a PE ratio of 47.15 and a beta of 2.22. The company's 50 day simple moving average is $10.79 and its 200-day simple moving average is $8.74. 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 announced its earnings results on Wednesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. The business had revenue of $31.12 million for the quarter, compared to analyst estimates of $28.55 million. Niagen Bioscience had a net margin of 15.24% and a return on equity of 23.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NAGE. Price T Rowe Associates Inc. MD raised its stake in Niagen Bioscience by 4.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 57,304 shares of the company's stock valued at $304,000 after purchasing an additional 2,196 shares during the last quarter. Wells Fargo & Company MN raised its stake in Niagen Bioscience by 42.1% in the 4th quarter. Wells Fargo & Company MN now owns 23,137 shares of the company's stock valued at $123,000 after purchasing an additional 6,856 shares during the last quarter. State of Wyoming acquired a new position in Niagen Bioscience in the 4th quarter valued at about $39,000. MetLife Investment Management LLC raised its stake in Niagen Bioscience by 46.6% in the 4th quarter. MetLife Investment Management LLC now owns 26,559 shares of the company's stock valued at $141,000 after purchasing an additional 8,445 shares during the last quarter. Finally, Barclays PLC raised its stake in Niagen Bioscience by 13.8% in the 4th 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 last quarter. Institutional investors and hedge funds own 15.41% of the company's stock.

About Niagen Bioscience

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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