Neurogene Inc. (NASDAQ:NGNE) Receives $51.33 Consensus Target Price from Brokerages

Shares of Neurogene Inc. (NASDAQ:NGNE) have received an average recommendation of “Buy” from the nine analysts that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $51.00.

Several equities research analysts have recently issued reports on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Neurogene in a research report on Monday, April 29th. Robert W. Baird started coverage on Neurogene in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $54.00 price target on the stock. HC Wainwright reduced their price objective on Neurogene from $51.00 to $49.00 and set a “buy” rating for the company in a research report on Monday. Baird R W raised Neurogene to a “strong-buy” rating in a research report on Tuesday, June 11th. Finally, SVB Leerink assumed coverage on Neurogene in a research note on Monday, April 29th. They issued an “outperform” rating and a $46.00 target price on the stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NGNE. Great Point Partners LLC acquired a new position in shares of Neurogene during the 4th quarter worth approximately $19,268,000. Avidity Partners Management LP acquired a new position in Neurogene during the fourth quarter worth $9,036,000. Vanguard Group Inc. increased its holdings in Neurogene by 906.5% during the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock worth $25,831,000 after buying an additional 457,062 shares during the last quarter. Integral Health Asset Management LLC bought a new stake in Neurogene during the second quarter worth $2,547,000. Finally, Driehaus Capital Management LLC lifted its stake in Neurogene by 123.8% in the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock valued at $3,719,000 after acquiring an additional 56,533 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Neurogene Price Performance

NASDAQ:NGNE opened at $35.62 on Friday. Neurogene has a 1 year low of $12.49 and a 1 year high of $53.00. The stock has a 50-day moving average price of $38.11 and a two-hundred day moving average price of $36.38.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data 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 company had revenue of $0.93 million during the quarter. Research analysts expect that Neurogene will post -4.15 earnings per share for the current fiscal year.

Neurogene Company Profile

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.