Niagen Bioscience (NASDAQ:NAGE) Posts Earnings Results, Hits Expectations

Niagen Bioscience (NASDAQ:NAGE) posted its quarterly earnings data on Tuesday. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01, Zacks reports. Niagen Bioscience had a return on equity of 18.31% and a net margin of 12.39%.The firm had revenue of $29.78 million during the quarter, compared to analysts’ expectations of $29.95 million.

Niagen Bioscience Trading Up 1.5%

Shares of NASDAQ NAGE traded up $0.04 on Thursday, reaching $3.00. 414,955 shares of the company traded hands, compared to its average volume of 981,190. The stock has a market capitalization of $239.32 million, a PE ratio of 16.70 and a beta of 2.09. Niagen Bioscience has a fifty-two week low of $2.87 and a fifty-two week high of $11.29. The company has a 50 day moving average of $3.41 and a 200 day moving average of $4.34.

Hedge Funds Weigh In On Niagen Bioscience

Several institutional investors and hedge funds have recently bought and sold shares of NAGE. Ameritas Investment Partners Inc. acquired a new position in shares of Niagen Bioscience in the 3rd quarter valued at $45,000. Quantbot Technologies LP purchased a new position in shares of Niagen Bioscience in the 3rd quarter worth $48,000. Kestra Advisory Services LLC acquired a new position in Niagen Bioscience in the fourth quarter valued at $70,000. SummitTX Capital L.P. acquired a new position in Niagen Bioscience in the fourth quarter valued at $79,000. Finally, Martingale Asset Management L P purchased a new stake in Niagen Bioscience during the fourth quarter valued at about $85,000. Institutional investors and hedge funds own 15.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NAGE. Roth Capital reaffirmed a “buy” rating on shares of Niagen Bioscience in a research note on Wednesday. Wall Street Zen lowered shares of Niagen Bioscience from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Freedom Capital raised shares of Niagen Bioscience to a “strong-buy” rating in a research note on Monday, July 6th. HC Wainwright reaffirmed a “buy” rating on shares of Niagen Bioscience in a research note on Wednesday, July 1st. Finally, Canaccord Genuity Group cut their price target on Niagen Bioscience from $13.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $10.33.

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.