Evogene (NASDAQ:EVGN) Lifted to “Hold” at Zacks Investment Research


Share on StockTwits

Evogene (NASDAQ:EVGN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Evogene is a leading computational biology company targeting to revolutionize product development for life-science based industries, including human health, agriculture, and industrial applications. Incorporating a deep understanding of biology and leveraging Big Data and Artificial Intelligence, Evogene established its unique technology, the Computational Predictive Biology (CPB) platform. The CPB platform is designed to computationally discover and develop life-science products based on microbes, small molecules, and genetic elements as the core components for such products. Evogene holds a number of subsidiaries utilizing the CPB platform to develop human microbiome-based therapeutics, medical cannabis, ag-biologicals, ag-chemicals, seed traits, and ag-solutions for castor oil production. “

Shares of NASDAQ:EVGN traded down $0.10 during mid-day trading on Tuesday, reaching $4.13. 568,524 shares of the company’s stock were exchanged, compared to its average volume of 1,430,567. The firm has a market capitalization of $106.35 million, a price-to-earnings ratio of -5.10 and a beta of 1.43. The business’s fifty day moving average price is $4.68 and its 200-day moving average price is $4.86. Evogene has a twelve month low of $0.94 and a twelve month high of $10.24.

Evogene (NASDAQ:EVGN) last issued its quarterly earnings results on Tuesday, March 2nd. The biotechnology company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). The business had revenue of $0.35 million for the quarter. Evogene had a negative return on equity of 38.40% and a negative net margin of 2,649.69%. Sell-side analysts anticipate that Evogene will post -0.82 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its holdings in Evogene by 23.3% in the first quarter. Janney Montgomery Scott LLC now owns 15,876 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 3,000 shares during the period. Phoenix Wealth Advisors acquired a new position in Evogene in the fourth quarter valued at $29,000. Csenge Advisory Group lifted its holdings in Evogene by 43.6% in the first quarter. Csenge Advisory Group now owns 23,700 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 7,200 shares during the period. Wells Fargo & Company MN lifted its holdings in Evogene by 40.5% in the fourth quarter. Wells Fargo & Company MN now owns 34,716 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 10,000 shares during the period. Finally, Steel Peak Wealth Management LLC acquired a new position in Evogene in the fourth quarter valued at $50,000. Institutional investors and hedge funds own 32.98% of the company’s stock.

Evogene Company Profile

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in multiple life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The CPB platform, incorporating a deep understanding of biology leveraged through big data and artificial intelligence, designed to computationally discover and uniquely guide the development of life-science products based on microbes, small molecules, and genetic elements.

Read More: Why is the Consumer Price Index (CPI) important?

Get a free copy of the Zacks research report on Evogene (EVGN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Evogene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evogene and related companies with MarketBeat.com's FREE daily email newsletter.