FY2024 EPS Estimates for Longeveron Boosted by HC Wainwright

Longeveron Inc. (NASDAQ:LGVN) – Research analysts at HC Wainwright upped their FY2024 EPS estimates for Longeveron in a research report issued on Monday, November 25th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings per share of ($2.83) for the year, up from their prior forecast of ($3.32). HC Wainwright currently has a “Buy” rating and a $10.00 target price 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 issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.19. Longeveron had a negative net margin of 967.49% and a negative return on equity of 142.43%. The firm had revenue of $0.77 million for the quarter, compared to analysts’ expectations of $0.34 million. During the same period in the previous year, the firm posted ($2.80) EPS.

Separately, Maxim Group dropped their price objective on Longeveron from $15.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th.

Longeveron Stock Performance

LGVN opened at $2.00 on Wednesday. The business’s 50-day simple moving average is $2.02 and its 200 day simple moving average is $2.13. Longeveron has a 52-week low of $0.77 and a 52-week high of $23.90. The firm has a market capitalization of $29.68 million, a PE ratio of -0.32 and a beta of 0.36.

Hedge Funds Weigh In On Longeveron

A number of institutional investors have recently bought and sold shares of LGVN. State Street Corp bought a new position in shares of Longeveron during the 3rd quarter worth approximately $29,000. Geode Capital Management LLC boosted its position in Longeveron by 316.0% during the third quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock worth $250,000 after purchasing an additional 97,953 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Longeveron in the second quarter valued at $236,000. Institutional investors and hedge funds 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.