Longeveron FY2024 EPS Forecast Increased by HC Wainwright

Longeveron Inc. (NASDAQ:LGVN) – Investment analysts at HC Wainwright boosted their FY2024 earnings estimates for shares of Longeveron in a report issued on Monday, November 25th. HC Wainwright analyst R. Selvaraju now forecasts that the company will earn ($2.83) per share for the year, up from their prior estimate of ($3.32). HC Wainwright has a “Buy” rating and a $10.00 price objective on the stock. The consensus estimate for Longeveron’s current full-year earnings is ($3.72) per share. HC Wainwright also issued estimates for Longeveron’s Q4 2024 earnings at ($0.40) EPS, Q1 2025 earnings at ($0.40) EPS, Q2 2025 earnings at ($0.34) EPS, Q3 2025 earnings at ($0.35) EPS, Q4 2025 earnings at ($0.37) EPS and FY2025 earnings at ($1.46) EPS.

Longeveron (NASDAQ:LGVN) last released its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.19. The company had revenue of $0.77 million for the quarter, compared to the consensus estimate of $0.34 million. Longeveron had a negative net margin of 967.49% and a negative return on equity of 142.43%. During the same period in the prior year, the company posted ($2.80) EPS.

Separately, Maxim Group decreased their price objective on Longeveron from $15.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 27th.

Longeveron Stock Performance

Shares of LGVN stock opened at $2.06 on Wednesday. The company’s 50 day moving average price is $2.02 and its two-hundred day moving average price is $2.13. Longeveron has a 52 week low of $0.77 and a 52 week high of $23.90. The company has a market capitalization of $30.57 million, a P/E ratio of -0.33 and a beta of 0.36.

Hedge Funds Weigh In On Longeveron

A number of large investors have recently made changes to their positions in LGVN. Renaissance Technologies LLC acquired a new stake in shares of Longeveron during the second quarter worth $236,000. State Street Corp acquired a new stake in Longeveron during the third quarter worth approximately $29,000. Finally, Geode Capital Management LLC increased its stake in Longeveron by 316.0% during the 3rd quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock worth $250,000 after acquiring an additional 97,953 shares during the period. Institutional investors own 10.01% of the company’s stock.

About Longeveron

Longeveron Inc, a clinical stage biotechnology company, develops cellular therapies for aging-related and life-threatening conditions in the United States and Japan. The company’s lead investigational product is the LOMECEL-B, an allogeneic mesenchymal stem cell formulation sourced from the bone marrow of young and healthy adult donors.