enGene Holdings Inc. (NASDAQ:ENGN) Receives Average Rating of “Buy” from Brokerages

enGene Holdings Inc. (NASDAQ:ENGN) has been given a consensus rating of “Buy” by the seven brokerages that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $33.67.

ENGN has been the topic of several analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $40.00 target price on shares of enGene in a research note on Wednesday, September 11th. Oppenheimer assumed coverage on enGene in a research note on Wednesday, August 28th. They issued an “outperform” rating and a $30.00 price target on the stock.

Hedge Funds Weigh In On enGene

A number of institutional investors have recently made changes to their positions in the stock. BVF Inc. IL purchased a new stake in shares of enGene in the fourth quarter valued at $20,777,000. Omega Fund Management LLC purchased a new stake in enGene during the fourth quarter valued at about $10,441,000. Altitude Crest Partners Inc. purchased a new stake in enGene during the first quarter valued at about $2,039,000. Janus Henderson Group PLC purchased a new stake in enGene during the first quarter valued at about $17,095,000. Finally, SR One Capital Management LP purchased a new stake in enGene during the second quarter valued at about $4,715,000. 64.16% of the stock is owned by institutional investors and hedge funds.

enGene Price Performance

Shares of NASDAQ ENGN opened at $7.21 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 42.80 and a current ratio of 19.52. enGene has a fifty-two week low of $4.94 and a fifty-two week high of $43.00. The firm has a market capitalization of $318.44 million, a PE ratio of -4.34 and a beta of -0.67. The stock’s 50-day simple moving average is $7.30 and its 200-day simple moving average is $11.13.

enGene (NASDAQ:ENGN) last released its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05. As a group, equities research analysts forecast that enGene will post -1.49 EPS for the current fiscal year.

About enGene

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.