Canaccord Genuity Group Issues Pessimistic Forecast for Niagen Bioscience (NASDAQ:NAGE) Stock Price

Niagen Bioscience (NASDAQ:NAGE) had its target price reduced by equities research analysts at Canaccord Genuity Group from $10.00 to $9.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target suggests a potential upside of 286.27% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Freedom Capital upgraded Niagen Bioscience to a “strong-buy” rating in a research note on Monday, July 6th. Roth Capital reiterated a “buy” rating on shares of Niagen Bioscience in a research report on Wednesday, August 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Niagen Bioscience in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $10.00.

Niagen Bioscience Price Performance

NASDAQ NAGE opened at $2.33 on Friday. The firm has a market cap of $185.57 million, a price-to-earnings ratio of 12.95 and a beta of 2.02. The business has a 50-day moving average price of $2.86 and a 200-day moving average price of $3.93. Niagen Bioscience has a twelve month low of $2.32 and a twelve month high of $7.95.

Niagen Bioscience (NASDAQ:NAGE) last released its earnings results on Tuesday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $29.78 million during the quarter, compared to analysts’ expectations of $29.95 million. Niagen Bioscience had a return on equity of 17.95% and a net margin of 12.39%. Research analysts expect that Niagen Bioscience will post 0.10 EPS for the current fiscal year.

Hedge Funds Weigh In On Niagen Bioscience

A number of large investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL grew its holdings in Niagen Bioscience by 2.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 165,000 shares of the company’s stock valued at $728,000 after purchasing an additional 4,000 shares during the last quarter. Teton Advisors LLC lifted its stake in Niagen Bioscience by 20.0% in the first quarter. Teton Advisors LLC now owns 30,000 shares of the company’s stock worth $132,000 after purchasing an additional 5,000 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Niagen Bioscience by 5.2% during the first quarter. Gabelli Funds LLC now owns 214,685 shares of the company’s stock valued at $947,000 after buying an additional 10,685 shares during the period. Stoneridge Investment Partners LLC purchased a new position in shares of Niagen Bioscience during the second quarter valued at approximately $49,000. Finally, Quantinno Capital Management LP boosted its position in shares of Niagen Bioscience by 90.0% during the first quarter. Quantinno Capital Management LP now owns 50,946 shares of the company’s stock valued at $225,000 after buying an additional 24,135 shares during the period. 15.41% of the stock is owned by hedge funds and other institutional investors.

About Niagen Bioscience

Niagen Bioscience, Inc develops and commercializes science-based products designed to support healthy aging and cellular health. The company focuses on NAD+ biology, including nicotinamide riboside (NR), a form of vitamin B3 that serves as a precursor to NAD+, a coenzyme involved in cellular energy production and other biological processes.

Its principal consumer product is Tru Niagen, an NR-based dietary supplement sold through the company’s direct-to-consumer website and retail and distribution channels.