enGene (NASDAQ:ENGN) Price Target Raised to $19.00 at Morgan Stanley

enGene (NASDAQ:ENGN) had its price target upped by equities researchers at Morgan Stanley from $18.00 to $19.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 106.50% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of enGene in a report on Tuesday, October 14th. UBS Group raised their target price on enGene from $4.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup reaffirmed a “market outperform” rating on shares of enGene in a research report on Wednesday. Raymond James Financial upgraded shares of enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research note on Tuesday. Finally, Citizens Jmp raised their target price on enGene from $18.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.38.

enGene Stock Performance

NASDAQ ENGN traded up $0.38 on Wednesday, hitting $9.20. 1,110,669 shares of the company’s stock traded hands, compared to its average volume of 383,370. The firm’s 50-day moving average price is $7.12 and its two-hundred day moving average price is $4.92. The firm has a market capitalization of $471.02 million, a PE ratio of -4.84 and a beta of -0.27. The company has a current ratio of 10.34, a quick ratio of 10.34 and a debt-to-equity ratio of 0.09. enGene has a 1-year low of $2.65 and a 1-year high of $11.14.

enGene (NASDAQ:ENGN) last announced its quarterly earnings results on Thursday, September 11th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.06). As a group, analysts expect that enGene will post -1.56 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. PFS Partners LLC acquired a new position in shares of enGene in the 3rd quarter valued at $61,000. Cresset Asset Management LLC purchased a new stake in shares of enGene during the 2nd quarter worth about $36,000. Paloma Partners Management Co acquired a new stake in enGene during the 2nd quarter worth approximately $38,000. ADAR1 Capital Management LLC acquired a new position in enGene during the first quarter valued at approximately $107,000. Finally, Affinity Asset Advisors LLC purchased a new stake in enGene during the second quarter worth approximately $280,000. 64.16% of the stock is currently owned by hedge funds and other institutional investors.

enGene Company Profile

enGene Holdings Inc, through its subsidiary enGene, Inc, operates as a clinical-stage biotechnology company that develops genetic medicines through the delivery of therapeutics to mucosal tissues and other organs. Its lead product candidate is EG-70 (detalimogene voraplasmid), which is a non-viral immunotherapy to treat non-muscle invasive bladder cancer patients with carcinoma-in-situ (Cis), who are unresponsive to treatment with Bacillus Calmette-Guérin.