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

Shares of Neurogene Inc. (NASDAQ:NGNE) have received an average rating of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $51.00.

Several research firms have recently issued reports on NGNE. Baird R W upgraded shares of Neurogene to a “strong-buy” rating in a report on Tuesday, June 11th. BMO Capital Markets began coverage on shares of Neurogene in a report on Thursday, June 27th. They set an “outperform” rating and a $65.00 target price for the company. HC Wainwright reduced their price target on shares of Neurogene from $51.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Robert W. Baird began coverage on shares of Neurogene in a research report on Tuesday, June 11th. They set an “outperform” rating and a $54.00 price target for the company.

Institutional Investors Weigh In On Neurogene

Several institutional investors and hedge funds have recently made changes to their positions in NGNE. Driehaus Capital Management LLC grew its position in Neurogene by 123.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after purchasing an additional 56,533 shares during the period. Marshall Wace LLP grew its position in Neurogene by 37.2% in the 2nd quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock worth $1,508,000 after purchasing an additional 11,229 shares during the period. Integral Health Asset Management LLC bought a new stake in Neurogene in the 2nd quarter worth approximately $2,547,000. Avoro Capital Advisors LLC bought a new stake in Neurogene in the 2nd quarter worth approximately $802,000. Finally, Quest Partners LLC bought a new stake in Neurogene in the 2nd quarter worth approximately $55,000. Institutional investors own 52.37% of the company’s stock.

Neurogene Trading Up 0.4 %

NGNE stock opened at $35.13 on Tuesday. The firm has a 50 day moving average price of $38.09 and a 200-day moving average price of $37.06. Neurogene has a 52-week low of $12.49 and a 52-week high of $53.00.

Neurogene (NASDAQ:NGNE) last released its earnings results on Friday, August 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.07). The firm had revenue of $0.93 million for the quarter. Research analysts predict that Neurogene will post -4.47 earnings per share for the current fiscal year.

About Neurogene

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.