Neurogene Inc. (NASDAQ:NGNE) Receives $51.00 Consensus Price Target from Brokerages

Neurogene Inc. (NASDAQ:NGNE) has been given an average recommendation of “Buy” by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $51.00.

Several analysts recently commented on the stock. HC Wainwright cut their target price on shares of Neurogene from $51.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Robert W. Baird assumed coverage on shares of Neurogene in a research note on Tuesday, June 11th. They set an “outperform” rating and a $54.00 target price for the company. BMO Capital Markets assumed coverage on shares of Neurogene in a research note on Thursday, June 27th. They set an “outperform” rating and a $65.00 target price for the company. Finally, Baird R W raised shares of Neurogene to a “strong-buy” rating in a research note on Tuesday, June 11th.

Institutional Investors Weigh In On Neurogene

Several hedge funds have recently made changes to their positions in NGNE. Avidity Partners Management LP purchased a new stake in shares of Neurogene in the 4th quarter valued at approximately $9,036,000. Great Point Partners LLC purchased a new stake in Neurogene in the 4th quarter worth approximately $19,268,000. Privium Fund Management UK Ltd purchased a new stake in Neurogene in the 1st quarter worth approximately $274,000. SG Americas Securities LLC purchased a new stake in Neurogene in the 1st quarter worth approximately $120,000. Finally, Vanguard Group Inc. lifted its position in Neurogene by 906.5% in the 1st 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. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Neurogene Stock Up 9.4 %

NGNE stock opened at $48.59 on Friday. The company has a 50-day simple moving average of $38.21 and a 200 day simple moving average of $37.87. Neurogene has a fifty-two week low of $12.49 and a fifty-two week high of $53.00.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings data on Friday, August 9th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.07). The company had revenue of $0.93 million for the quarter. On average, equities research analysts predict that Neurogene will post -4.47 EPS for the current year.

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.