Neurogene (NASDAQ:NGNE) Announces Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Neurogene (NASDAQ:NGNE) released its earnings results on Monday. The company reported ($1.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.44, FiscalAI reports.

Neurogene Stock Performance

Shares of Neurogene stock opened at $25.31 on Monday. The stock has a 50-day moving average price of $29.46 and a 200 day moving average price of $27.94. The company has a market cap of $506.48 million, a P/E ratio of -5.03 and a beta of 1.75. Neurogene has a 1 year low of $15.93 and a 1 year high of $43.66.

Analysts Set New Price Targets

NGNE has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Neurogene in a research note on Wednesday, October 28th. Guggenheim increased their target price on shares of Neurogene from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. William Blair upgraded shares of Neurogene to a “strong-buy” rating in a report on Wednesday, September 23rd. Wall Street Zen lowered shares of Neurogene from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 10th. Finally, Canaccord Genuity Group dropped their price target on Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $80.29.

About Neurogene

Neurogene Inc (NASDAQ: NGNE) is a clinical-stage biotechnology company focused on developing genetic medicines for patients with rare neurological diseases. The company designs gene therapies intended to address the underlying genetic causes of disorders for which treatment options are limited or unavailable.

Neurogene’s lead program is NGN-401, an investigational gene therapy being developed for Rett syndrome, a rare neurodevelopmental disorder. The company is also advancing NGN-101 for CLN5 Batten disease, a form of neuronal ceroid lipofuscinosis.