Neurogene Inc. (NASDAQ:NGNE) Receives $42.50 Average Price Target from Brokerages

Neurogene Inc. (NASDAQ:NGNE) has been given an average rating of “Hold” by the seven research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $42.50.

A number of brokerages have commented on NGNE. HC Wainwright boosted their target price on Neurogene from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Wall Street Zen cut Neurogene from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a report on Wednesday, October 8th.

Neurogene Stock Down 0.3%

NGNE stock opened at $20.01 on Thursday. The company has a 50 day moving average of $24.27 and a two-hundred day moving average of $22.01. The company has a market cap of $309.95 million, a price-to-earnings ratio of -4.87 and a beta of 1.62. Neurogene has a 12-month low of $6.88 and a 12-month high of $37.27.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.99) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.27. On average, research analysts anticipate that Neurogene will post -4.27 EPS for the current year.

Institutional Investors Weigh In On Neurogene

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baker BROS. Advisors LP increased its stake in shares of Neurogene by 120.4% in the first quarter. Baker BROS. Advisors LP now owns 1,486,200 shares of the company’s stock worth $17,403,000 after purchasing an additional 811,750 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Neurogene in the 3rd quarter valued at approximately $12,114,000. ArrowMark Colorado Holdings LLC increased its position in Neurogene by 1.8% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 595,839 shares of the company’s stock worth $10,326,000 after buying an additional 10,442 shares during the period. Jennison Associates LLC increased its position in Neurogene by 55.0% in the 2nd quarter. Jennison Associates LLC now owns 167,563 shares of the company’s stock worth $2,505,000 after buying an additional 59,479 shares during the period. Finally, Blair William & Co. IL lifted its holdings in shares of Neurogene by 6.4% during the third quarter. Blair William & Co. IL now owns 141,820 shares of the company’s stock worth $2,458,000 after buying an additional 8,584 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Neurogene Company Profile

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.