Neurogene Inc. (NASDAQ:NGNE) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Neurogene Inc. (NASDAQ:NGNE) have received an average rating of “Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $48.60.

NGNE has been the subject of several research reports. Baird R W upgraded shares of Neurogene to a “strong-buy” rating in a research report on Tuesday, June 11th. William Blair started coverage on shares of Neurogene in a research report on Thursday, March 21st. They set an “outperform” rating and a $61.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $51.00 target price on shares of Neurogene in a research report on Tuesday, June 4th. SVB Leerink started coverage on shares of Neurogene in a research report on Monday, April 29th. They set an “outperform” rating and a $46.00 target price for the company. Finally, Robert W. Baird started coverage on shares of Neurogene in a research report on Tuesday, June 11th. They set an “outperform” rating and a $54.00 target price for the company.

Neurogene Price Performance

NASDAQ NGNE opened at $30.32 on Thursday. The business has a fifty day moving average price of $34.32. Neurogene has a 1 year low of $12.20 and a 1 year high of $53.00.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings results on Friday, May 10th. The company reported ($1.00) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.03. Analysts forecast that Neurogene will post -4.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neurogene

A number of institutional investors and hedge funds have recently modified their holdings of the company. Baker BROS. Advisors LP lifted its holdings in shares of Neurogene by 0.6% in the first quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock worth $23,211,000 after buying an additional 2,499 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Neurogene by 906.5% in the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock worth $25,831,000 after buying an additional 457,062 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Neurogene in the first quarter valued at approximately $120,000. Privium Fund Management UK Ltd purchased a new stake in Neurogene in the first quarter valued at approximately $274,000. Finally, Great Point Partners LLC purchased a new stake in Neurogene in the fourth quarter valued at approximately $19,268,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Neurogene Company Profile

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.