Stifel Nicolaus Forecasts Strong Price Appreciation for Neurogene (NASDAQ:NGNE) Stock

Neurogene (NASDAQ:NGNEGet Free Report) had its target price increased by stock analysts at Stifel Nicolaus from $44.00 to $60.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 57.73% from the company’s current price.

Several other analysts have also issued reports on the stock. Robert W. Baird raised their price target on shares of Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday. Leerink Partners upped their price objective on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday. HC Wainwright lifted their price target on Neurogene from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets decreased their price objective on shares of Neurogene from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Neurogene currently has an average rating of “Buy” and a consensus price target of $63.33.

Read Our Latest Report on NGNE

Neurogene Stock Down 46.8 %

NGNE traded down $33.49 on Tuesday, reaching $38.04. 1,146,714 shares of the company’s stock were exchanged, compared to its average volume of 131,684. The company’s 50 day moving average is $46.77 and its 200-day moving average is $40.05. Neurogene has a twelve month low of $12.49 and a twelve month high of $74.49.

Neurogene (NASDAQ:NGNEGet Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.07). The business had revenue of $0.93 million during the quarter. Sell-side analysts expect that Neurogene will post -4.44 earnings per share for the current year.

Institutional Investors Weigh In On Neurogene

A number of institutional investors have recently added to or reduced their stakes in NGNE. Quest Partners LLC purchased a new position in shares of Neurogene in the second quarter worth $55,000. SG Americas Securities LLC acquired a new position in shares of Neurogene in the 1st quarter valued at $120,000. Rhumbline Advisers purchased a new position in Neurogene during the second quarter worth approximately $491,000. Avoro Capital Advisors LLC acquired a new stake in Neurogene in the 2nd quarter valued at $802,000. Finally, Bank of New York Mellon Corp purchased a new position in Neurogene in the 2nd quarter valued at about $1,107,000. Institutional investors own 52.37% of the company’s stock.

About Neurogene

(Get Free Report)

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.

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