Niagen Bioscience (NASDAQ:NAGE) Shares Gap Up After Better-Than-Expected Earnings

Niagen Bioscience, Inc. (NASDAQ:NAGE)’s share price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $6.95, but opened at $7.55. Niagen Bioscience shares last traded at $7.21, with a volume of 309,164 shares traded.

The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $33.99 million during the quarter, compared to the consensus estimate of $31.30 million. Niagen Bioscience had a return on equity of 23.12% and a net margin of 15.24%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Niagen Bioscience in a research note on Wednesday, October 8th. HC Wainwright upped their price objective on Niagen Bioscience from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, Wall Street Zen lowered Niagen Bioscience from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 9th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.42.

Hedge Funds Weigh In On Niagen Bioscience

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Midwest Professional Planners LTD. bought a new position in Niagen Bioscience during the 3rd quarter valued at $195,000. Principal Financial Group Inc. bought a new position in Niagen Bioscience during the 3rd quarter valued at $751,000. Arizona State Retirement System bought a new position in Niagen Bioscience during the 3rd quarter valued at $152,000. State of Wyoming bought a new position in Niagen Bioscience during the 3rd quarter valued at $397,000. Finally, Strs Ohio bought a new position in Niagen Bioscience during the 3rd quarter valued at $391,000. 15.41% of the stock is owned by institutional investors.

Niagen Bioscience Stock Performance

The business has a 50 day simple moving average of $8.54 and a 200-day simple moving average of $9.71. The stock has a market capitalization of $575.02 million, a P/E ratio of 34.33 and a beta of 2.13.

Niagen Bioscience Company Profile

Niagen Bioscience, Inc is a global bioscience company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It is pioneering research on nicotinamide adenine dinucleotide (NAD+). The company’s patent portfolio includes Nicotinamide Riboside (NR) and other NAD+ precursors, which are commercialized as the flagship ingredient Niagen.