Niagen Bioscience's (NAGE) Buy Rating Reiterated at Canaccord Genuity Group

Key Points

• Canaccord Genuity reiterated a Buy rating on Niagen Bioscience with a $13.00 target, an implied upside of about 203.7% from the prior close.
• Across analysts the stock has a consensus of Moderate Buy (three Buys, one Hold) and a consensus target of $16.00, well above the current share price.
• Large institutions including Vanguard, Arrowstreet, UBS, Qube and Millennium initiated sizable Q3 positions; NAGE trades around $4.28 with a market cap near $343M and ~15.4% institutional ownership.

Niagen Bioscience (NASDAQ:NAGE - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Canaccord Genuity Group in a report released on Tuesday,Benzinga reports. They presently have a $13.00 target price on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 203.74% from the stock's previous close.

Several other equities analysts have also recently weighed in on NAGE. Wall Street Zen upgraded Niagen Bioscience from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings reissued a "hold (c)" rating on shares of Niagen Bioscience in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.00.

Niagen Bioscience Trading Up 1.9%

NAGE stock opened at $4.28 on Tuesday. Niagen Bioscience has a 1-year low of $4.16 and a 1-year high of $14.69. The firm has a market cap of $342.74 million, a PE ratio of 21.40 and a beta of 2.12. The business's 50-day moving average price is $5.19 and its two-hundred day moving average price is $6.54.

Institutional Trading of Niagen Bioscience

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. acquired a new position in Niagen Bioscience during the third quarter worth $37,522,000. Arrowstreet Capital Limited Partnership acquired a new stake in Niagen Bioscience in the 3rd quarter valued at $13,405,000. UBS Group AG bought a new stake in Niagen Bioscience during the 3rd quarter worth about $11,160,000. Qube Research & Technologies Ltd acquired a new position in shares of Niagen Bioscience during the 3rd quarter worth about $8,175,000. Finally, Millennium Management LLC acquired a new position in shares of Niagen Bioscience during the 3rd quarter worth about $7,224,000. 15.41% of the stock is currently owned by institutional investors and hedge funds.

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. It operates through the following segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.