Neurogene FY2024 EPS Forecast Reduced by Leerink Partnrs

Neurogene Inc. (NASDAQ:NGNE) – Research analysts at Leerink Partnrs decreased their FY2024 earnings per share (EPS) estimates for Neurogene in a note issued to investors on Monday, November 18th. Leerink Partnrs analyst M. Foroohar now expects that the company will earn ($4.52) per share for the year, down from their prior estimate of ($4.40). The consensus estimate for Neurogene’s current full-year earnings is ($4.45) per share. Leerink Partnrs also issued estimates for Neurogene’s Q4 2024 earnings at ($1.22) EPS, FY2025 earnings at ($4.49) EPS and FY2026 earnings at ($5.96) EPS.

NGNE has been the subject of a number of other reports. Robert W. Baird upped their target price on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Neurogene in a research note on Tuesday. William Blair reiterated an “outperform” rating on shares of Neurogene in a research note on Tuesday. BMO Capital Markets dropped their price objective on Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Leerink Partners increased their price objective on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $60.83.

Neurogene Stock Performance

Shares of NASDAQ NGNE opened at $15.59 on Thursday. The business has a fifty day simple moving average of $45.41 and a 200 day simple moving average of $39.62. Neurogene has a one year low of $12.49 and a one year high of $74.49.

Institutional Trading of Neurogene

Large investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in Neurogene by 319.4% in the third quarter. Barclays PLC now owns 14,859 shares of the company’s stock valued at $623,000 after acquiring an additional 11,316 shares during the last quarter. Jane Street Group LLC bought a new position in Neurogene in the third quarter valued at about $324,000. Wellington Management Group LLP bought a new position in Neurogene in the third quarter valued at about $767,000. State Street Corp boosted its holdings in Neurogene by 17.5% in the third quarter. State Street Corp now owns 246,540 shares of the company’s stock valued at $10,345,000 after acquiring an additional 36,687 shares during the last quarter. Finally, RTW Investments LP boosted its holdings in Neurogene by 6.0% in the third quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock valued at $47,635,000 after acquiring an additional 64,691 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

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.