Brokerages Set Neurogene Inc. (NASDAQ:NGNE) Price Target at $46.17

Neurogene Inc. (NASDAQ:NGNE) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $46.1667.

A number of research analysts recently issued reports on NGNE shares. BMO Capital Markets reiterated an “outperform” rating and issued a $26.00 price objective (up previously from $22.00) on shares of Neurogene in a report on Thursday, June 12th. Craig Hallum initiated coverage on shares of Neurogene in a report on Tuesday, June 17th. They set a “buy” rating and a $50.00 price target for the company.

Neurogene Price Performance

Shares of NASDAQ NGNE opened at $18.68 on Tuesday. The company has a 50 day simple moving average of $20.46 and a 200 day simple moving average of $17.51. The firm has a market cap of $266.56 million, a PE ratio of -4.33 and a beta of 1.58. Neurogene has a 1 year low of $6.88 and a 1 year high of $74.49.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Monday, August 11th. The company reported ($1.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.10. As a group, research analysts anticipate that Neurogene will post -4.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Corebridge Financial Inc. raised its holdings in Neurogene by 13.8% during the 1st quarter. Corebridge Financial Inc. now owns 5,826 shares of the company’s stock worth $68,000 after purchasing an additional 705 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Neurogene by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,231 shares of the company’s stock worth $132,000 after purchasing an additional 941 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Neurogene by 17.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after purchasing an additional 1,059 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Neurogene by 43.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,055 shares of the company’s stock worth $61,000 after purchasing an additional 1,232 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Neurogene by 8.2% during the 1st quarter. Bank of New York Mellon Corp now owns 24,445 shares of the company’s stock worth $286,000 after purchasing an additional 1,844 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Neurogene Company Profile

Neurogene Inc, a biotechnology company, develops genetic medicines for rare neurological diseases. The company's product candidates include NGN-401 which is packaged in an adeno-associated virus 9 that is in Phase 1/2 clinical trial for the treatment of Rett syndrome; and NGN-101, a conventional gene therapy candidate that is in Phase 1/2 clinical trial to treat CLN5 Batten disease.