FY2024 EPS Estimates for Neurogene Reduced by William Blair

Neurogene Inc. (NASDAQ:NGNE) – Stock analysts at William Blair reduced their FY2024 earnings estimates for shares of Neurogene in a research note issued on Tuesday, November 19th. William Blair analyst S. Corwin now expects that the company will earn ($4.33) per share for the year, down from their prior estimate of ($4.31). William Blair has a “Outperform” rating on the stock. The consensus estimate for Neurogene’s current full-year earnings is ($4.45) per share. William Blair also issued estimates for Neurogene’s Q4 2024 earnings at ($1.04) EPS, Q1 2025 earnings at ($1.08) EPS, Q2 2025 earnings at ($1.05) EPS, Q3 2025 earnings at ($1.09) EPS, Q4 2025 earnings at ($1.11) EPS and FY2025 earnings at ($4.32) EPS.

Several other research analysts have also weighed in on NGNE. BMO Capital Markets cut their price objective on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Neurogene in a report on Tuesday. Stifel Nicolaus increased their price objective on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird increased their price objective on shares of Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Leerink Partners increased their price objective on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $60.83.

Neurogene Stock Performance

NASDAQ:NGNE opened at $15.59 on Thursday. The company’s 50-day moving average is $45.41 and its two-hundred day moving average is $39.62. Neurogene has a 12-month low of $12.49 and a 12-month high of $74.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Driehaus Capital Management LLC lifted its position in Neurogene by 123.8% during the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock valued at $3,719,000 after buying an additional 56,533 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Neurogene during the second quarter valued at approximately $1,107,000. Vanguard Group Inc. raised its stake in shares of Neurogene by 906.5% during the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after purchasing an additional 457,062 shares during the period. Marshall Wace LLP raised its stake in shares of Neurogene by 37.2% during the second quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock valued at $1,508,000 after purchasing an additional 11,229 shares during the period. Finally, Integral Health Asset Management LLC purchased a new stake in shares of Neurogene during the second quarter valued at approximately $2,547,000. 52.37% of the stock is owned by institutional investors and hedge funds.

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.