Niagen Bioscience (NASDAQ:NAGE) Shares Gap Up Following Better-Than-Expected Earnings

Niagen Bioscience, Inc. (NASDAQ:NAGE) shares gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $9.40, but opened at $11.20. Niagen Bioscience shares last traded at $9.87, with a volume of 1,086,002 shares trading hands.

The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $31.12 million for the quarter, compared to analyst estimates of $28.55 million. Niagen Bioscience had a net margin of 15.24% and a return on equity of 25.53%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NAGE. Canaccord Genuity Group upped their price objective on Niagen Bioscience from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Roth Capital restated a “buy” rating and issued a $23.00 target price (up previously from $10.00) on shares of Niagen Bioscience in a research note on Friday, June 6th. Finally, Wall Street Zen downgraded Niagen Bioscience from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $13.22.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NAGE. Prudential Financial Inc. lifted its stake in Niagen Bioscience by 247.2% in the fourth quarter. Prudential Financial Inc. now owns 79,215 shares of the company’s stock valued at $420,000 after acquiring an additional 56,400 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Niagen Bioscience by 2.8% in the 4th quarter. JPMorgan Chase & Co. now owns 341,221 shares of the company’s stock valued at $1,810,000 after purchasing an additional 9,305 shares during the period. Geode Capital Management LLC lifted its stake in Niagen Bioscience by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,154,778 shares of the company’s stock valued at $6,128,000 after purchasing an additional 5,186 shares during the last quarter. Trexquant Investment LP acquired a new stake in Niagen Bioscience in the 4th quarter valued at about $144,000. Finally, Wells Fargo & Company MN grew its holdings in Niagen Bioscience by 42.1% during the fourth quarter. Wells Fargo & Company MN now owns 23,137 shares of the company’s stock worth $123,000 after purchasing an additional 6,856 shares during the period. 15.41% of the stock is owned by institutional investors and hedge funds.

Niagen Bioscience Price Performance

The business has a 50-day simple moving average of $11.79 and a two-hundred day simple moving average of $8.29. The stock has a market cap of $756.98 million, a price-to-earnings ratio of 45.76 and a beta of 2.12.

About Niagen Bioscience

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.