Brokerages Set Neurogene Inc. (NASDAQ:NGNE) Price Target at $42.50

Neurogene Inc. (NASDAQ:NGNE) has been given a consensus rating of “Hold” by the seven brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $42.50.

Several research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a report on Wednesday, October 8th. Wall Street Zen lowered Neurogene from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Finally, HC Wainwright raised their target price on Neurogene from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th.

Hedge Funds Weigh In On Neurogene

A number of institutional investors have recently bought and sold shares of NGNE. Nuveen LLC purchased a new position in Neurogene in the first quarter worth approximately $322,000. Jennison Associates LLC raised its position in Neurogene by 55.0% in the second quarter. Jennison Associates LLC now owns 167,563 shares of the company’s stock valued at $2,505,000 after purchasing an additional 59,479 shares during the period. Wellington Management Group LLP lifted its stake in shares of Neurogene by 58.5% in the 1st quarter. Wellington Management Group LLP now owns 34,421 shares of the company’s stock valued at $403,000 after purchasing an additional 12,704 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Neurogene by 12.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,969 shares of the company’s stock worth $398,000 after purchasing an additional 3,652 shares during the period. Finally, Baker BROS. Advisors LP increased its position in shares of Neurogene by 120.4% during the 1st quarter. Baker BROS. Advisors LP now owns 1,486,200 shares of the company’s stock worth $17,403,000 after purchasing an additional 811,750 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Neurogene Stock Up 0.6%

Neurogene stock opened at $20.14 on Thursday. The company has a fifty day simple moving average of $24.03 and a 200-day simple moving average of $22.01. The firm has a market capitalization of $311.97 million, a price-to-earnings ratio of -4.90 and a beta of 1.63. Neurogene has a 52-week low of $6.88 and a 52-week high of $37.27.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.27. On average, research analysts anticipate that Neurogene will post -4.27 EPS for the current fiscal year.

Neurogene Company Profile

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.