enGene Holdings Inc. (NASDAQ:ENGN) Stock Has Consensus Price Target of $11.05 According to Brokerages

enGene Holdings Inc. (NASDAQ:ENGN) has been given a consensus recommendation of “Hold” by the fourteen brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.05.

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of enGene in a report on Wednesday, August 12th. Morgan Stanley lowered enGene from an “equal weight” rating to an “underweight” rating and set a $3.00 price target for the company. in a research note on Thursday, June 18th. Wall Street Zen upgraded shares of enGene from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of enGene in a report on Tuesday, September 8th. Finally, Jefferies Financial Group raised shares of enGene to a “strong-buy” rating in a research report on Tuesday.

Key Stories Impacting enGene

Here are the key news stories impacting enGene this week:

• Positive Sentiment: The Jefferies upgrade may provide support for enGene Holdings Inc. (ENGN), particularly given the stock’s substantial decline from its 52-week high. However, the impact may be limited unless accompanied by improved operating results or progress with the company’s pipeline.
• Neutral Sentiment: The other articles concern Mazda rotary engines, airplane-engine longevity, Nissan and Toyota engines, Cosworth, Rolls-Royce, and other automotive or aviation topics. They do not appear to contain company-specific information about enGene Holdings or a direct catalyst for ENGN.
• Negative Sentiment: Investors may remain cautious because enGene previously reported a quarterly EPS loss that was worse than analysts expected, and analysts anticipate a full-year loss. The stock’s position well below its 50-day and 200-day moving averages also indicates continued technical weakness, which may be offsetting the benefit of the analyst upgrade.

Institutional Investors Weigh In On enGene

Several institutional investors and hedge funds have recently modified their holdings of the stock. SR One Capital Management LP bought a new stake in shares of enGene during the 2nd quarter valued at about $1,293,607. Eversept Partners LP increased its position in shares of enGene by 12.0% during the first quarter. Eversept Partners LP now owns 510,543 shares of the company’s stock valued at $3,477,000 after buying an additional 54,708 shares during the period. Renaissance Technologies LLC increased its position in shares of enGene by 651.1% during the first quarter. Renaissance Technologies LLC now owns 156,100 shares of the company’s stock valued at $1,063,000 after buying an additional 135,318 shares during the period. Siren L.L.C. raised its stake in enGene by 57.5% in the first quarter. Siren L.L.C. now owns 5,253,159 shares of the company’s stock worth $35,774,000 after buying an additional 1,916,895 shares in the last quarter. Finally, Sei Investments Co. bought a new position in enGene in the first quarter worth about $409,000. 64.16% of the stock is owned by hedge funds and other institutional investors.

enGene Stock Performance

ENGN opened at $1.56 on Monday. The business has a 50 day simple moving average of $1.84 and a two-hundred day simple moving average of $2.87. The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 0.11. enGene has a one year low of $1.40 and a one year high of $12.25.

enGene (NASDAQ:ENGN) last issued its quarterly earnings data on Tuesday, September 8th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.04). As a group, equities research analysts anticipate that enGene will post -1.81 earnings per share for the current fiscal year.

enGene Company Profile

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. The company was founded in 2023 and is based in Saint-Laurent, Canada.