Neurogene Inc. (NASDAQ:NGNE) Receives $51.33 Average Target Price from Analysts

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

A number of analysts recently weighed in on the stock. Leerink Partnrs restated an “outperform” rating on shares of Neurogene in a report on Monday, April 29th. BMO Capital Markets assumed coverage on Neurogene in a research note on Thursday, June 27th. They set an “outperform” rating and a $65.00 price objective for the company. SVB Leerink started coverage on Neurogene in a research report on Monday, April 29th. They set an “outperform” rating and a $46.00 target price on the stock. HC Wainwright decreased their price target on Neurogene from $51.00 to $49.00 and set a “buy” rating for the company in a research report on Monday. Finally, Baird R W upgraded Neurogene to a “strong-buy” rating in a report on Tuesday, June 11th.

Neurogene Stock Performance

NGNE opened at $35.62 on Friday. Neurogene has a 1-year low of $12.49 and a 1-year high of $53.00. The business has a 50 day moving average price of $38.11 and a two-hundred day moving average price of $36.38.

Neurogene (NASDAQ:NGNE) last announced 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 firm had revenue of $0.93 million during the quarter. Sell-side analysts anticipate that Neurogene will post -4.15 EPS for the current year.

Hedge Funds Weigh In On Neurogene

Several institutional investors and hedge funds have recently bought and sold shares of NGNE. Quest Partners LLC acquired a new stake in shares of Neurogene during the second quarter worth approximately $55,000. SG Americas Securities LLC acquired a new stake in shares of Neurogene during the first quarter worth approximately $120,000. Privium Fund Management UK Ltd acquired a new stake in shares of Neurogene during the first quarter worth approximately $274,000. BML Capital Management LLC acquired a new stake in shares of Neurogene during the fourth quarter worth approximately $478,000. Finally, Rhumbline Advisers acquired a new stake in shares of Neurogene during the second quarter worth approximately $491,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

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.