Canaccord Genuity Group Reaffirms “Buy” Rating for Niagen Bioscience (NASDAQ:NAGE)

Niagen Bioscience (NASDAQ:NAGE)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity Group in a research report issued on Tuesday,Benzinga reports. They currently have a $13.00 price objective on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 203.74% from the company’s previous close.

A number of other research analysts also recently commented on NAGE. Wall Street Zen raised shares of Niagen Bioscience from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Niagen Bioscience in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Niagen Bioscience currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Niagen Bioscience Trading Up 1.9%

NASDAQ NAGE opened at $4.28 on Tuesday. The company has a market cap of $342.74 million, a PE ratio of 21.40 and a beta of 2.12. Niagen Bioscience has a 12 month low of $4.16 and a 12 month high of $14.69. The stock has a 50 day moving average of $5.19 and a 200-day moving average of $6.54.

Institutional Trading of Niagen Bioscience

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. acquired a new position in Niagen Bioscience in the 3rd quarter valued at about $37,522,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Niagen Bioscience in the third quarter valued at approximately $13,405,000. UBS Group AG increased its stake in shares of Niagen Bioscience by 18.0% during the fourth quarter. UBS Group AG now owns 1,411,742 shares of the company’s stock worth $8,979,000 after purchasing an additional 215,645 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Niagen Bioscience by 152.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 954,880 shares of the company’s stock worth $6,073,000 after purchasing an additional 576,254 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Niagen Bioscience by 26.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 920,370 shares of the company’s stock worth $5,854,000 after purchasing an additional 194,647 shares during the last quarter. Institutional investors and hedge funds own 15.41% of the company’s stock.

Niagen Bioscience Company Profile

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. It operates through the following segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services.