enGene (NASDAQ:ENGN) Stock Rating Raised to “Outperform” at Leerink Partners

enGene (NASDAQ:ENGN) was upgraded by stock analysts at Leerink Partners from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $5.00 target price on the stock. Leerink Partners‘s price target would suggest a potential upside of 119.30% from the stock’s previous close.

Other analysts have also issued reports about the company. Citizens Jmp reiterated a “market perform” rating on shares of enGene in a research note on Wednesday, September 9th. Citigroup cut enGene from a “market perform” rating to a “hold” rating in a research report on Friday, October 16th. Raymond James Financial reissued an “outperform” rating on shares of enGene in a report on Thursday. Wells Fargo & Company upgraded shares of enGene from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $2.00 to $6.00 in a research report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating on shares of enGene in a report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, enGene has an average rating of “Moderate Buy” and a consensus price target of $10.75.

enGene Stock Up 26.7%

enGene stock opened at $2.28 on Friday. enGene has a 1-year low of $1.40 and a 1-year high of $12.25. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $1.78 and a 200 day simple moving average of $4.02.

enGene (NASDAQ:ENGN) last posted its earnings results on Tuesday, September 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.04). On average, sell-side analysts expect that enGene will post -1.82 EPS for the current fiscal year.

Hedge Funds Weigh In On enGene

A number of institutional investors have recently added to or reduced their stakes in ENGN. SR One Capital Management LP purchased a new position in shares of enGene during the second quarter worth about $1,293,607. Eversept Partners LP increased its position in shares of enGene by 12.0% in the first quarter. Eversept Partners LP now owns 510,543 shares of the company’s stock worth $3,477,000 after purchasing an additional 54,708 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of enGene by 651.1% in the first quarter. Renaissance Technologies LLC now owns 156,100 shares of the company’s stock worth $1,063,000 after purchasing an additional 135,318 shares during the last quarter. 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 valued at $35,774,000 after purchasing an additional 1,916,895 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in enGene in the first quarter valued at approximately $409,000. 64.16% of the stock is currently owned by institutional investors.

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.