Neurogene (NASDAQ:NGNE) Stock Price Expected to Rise, Leerink Partners Analyst Says

Neurogene (NASDAQ:NGNE) had its target price boosted by equities researchers at Leerink Partners from $45.00 to $72.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price objective would suggest a potential upside of 58.38% from the stock’s previous close.

Other analysts also recently issued research reports about the company. HC Wainwright lifted their price objective on Neurogene from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird upped their price target on shares of Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $59.33.

Neurogene Price Performance

Shares of NASDAQ NGNE opened at $45.46 on Tuesday. Neurogene has a 1 year low of $12.49 and a 1 year high of $74.49. The firm has a fifty day moving average price of $46.77 and a 200-day moving average price of $40.05.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings data on Friday, August 9th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.07). The firm had revenue of $0.93 million during the quarter. As a group, equities analysts expect that Neurogene will post -4.44 EPS for the current year.

Hedge Funds Weigh In On Neurogene

Several hedge funds have recently bought and sold shares of NGNE. Quest Partners LLC purchased a new position in shares of Neurogene during the second quarter valued at $55,000. SG Americas Securities LLC purchased a new stake in shares of Neurogene in the 1st quarter worth approximately $120,000. Rhumbline Advisers bought a new position in shares of Neurogene during the second quarter valued at approximately $491,000. Avoro Capital Advisors LLC bought a new position in Neurogene in the second quarter worth approximately $802,000. Finally, Bank of New York Mellon Corp purchased a new stake in Neurogene during the second quarter worth $1,107,000. Institutional investors own 52.37% of the company’s stock.

About Neurogene

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.