enGene (NASDAQ:ENGN) Raised to Outperform at Leerink Partners

enGene (NASDAQ:ENGN) was upgraded by stock analysts at Leerink Partners from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has a $5.00 target price on the stock. Leerink Partners‘s price objective would suggest a potential upside of 119.30% from the company’s current price.

Several other equities analysts have also recently commented on ENGN. Wall Street Zen upgraded shares of enGene from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Wells Fargo & Company raised shares of enGene from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $2.00 to $6.00 in a report on Thursday. Weiss Ratings cut shares of enGene from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 30th. UBS Group reiterated an “outperform” rating on shares of enGene in a research note on Thursday. Finally, Jefferies Financial Group upgraded enGene to a “strong-buy” rating in a research report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.75.

enGene Price Performance

Shares of ENGN stock opened at $2.28 on Friday. The stock has a 50 day moving average of $1.78 and a 200-day moving average of $4.02. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.11. enGene has a 12 month low of $1.40 and a 12 month high of $12.25.

enGene (NASDAQ:ENGN) last released its earnings results on Tuesday, September 8th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Research analysts predict that enGene will post -1.82 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Siren L.L.C. grew its position in enGene by 57.5% in the 1st quarter. Siren L.L.C. now owns 5,253,159 shares of the company’s stock worth $35,774,000 after purchasing an additional 1,916,895 shares in the last quarter. Eversept Partners LP lifted its holdings in enGene by 12.0% during the first quarter. Eversept Partners LP now owns 510,543 shares of the company’s stock worth $3,477,000 after acquiring an additional 54,708 shares during the period. Monashee Investment Management LLC lifted its holdings in enGene by 8.5% during the first quarter. Monashee Investment Management LLC now owns 320,000 shares of the company’s stock worth $2,179,000 after acquiring an additional 25,000 shares during the period. SR One Capital Management LP purchased a new position in enGene in the second quarter worth $1,293,607. Finally, Renaissance Technologies LLC boosted its position in enGene by 651.1% in the first quarter. Renaissance Technologies LLC now owns 156,100 shares of the company’s stock worth $1,063,000 after purchasing an additional 135,318 shares during the last quarter. 64.16% of the stock is currently owned by institutional investors and hedge funds.

enGene Company Profile

enGene Holdings Inc., through its subsidiary enGene, Inc., operates as a clinical-stage biotechnology company that develops genetic medicines through the delivery of therapeutics to mucosal tissues and other organs. Its lead product candidate is EG-70 (detalimogene voraplasmid), which is a non-viral immunotherapy to treat non-muscle invasive bladder cancer patients with carcinoma-in-situ (Cis), who are unresponsive to treatment with Bacillus Calmette-Guérin. The company was founded in 2023 and is based in Saint-Laurent, Canada.