Brokerages Set Neurogene Inc. (NASDAQ:NGNE) Target Price at $48.60

Neurogene Inc. (NASDAQ:NGNE) has been assigned an average rating of “Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $48.60.

Several research analysts have issued reports on the stock. SVB Leerink assumed coverage on shares of Neurogene in a research report on Monday, April 29th. They set an “outperform” rating and a $46.00 price objective on the stock. Baird R W upgraded shares of Neurogene to a “strong-buy” rating in a research note on Tuesday, June 11th. HC Wainwright restated a “buy” rating and issued a $51.00 target price on shares of Neurogene in a research note on Thursday. Robert W. Baird started coverage on shares of Neurogene in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $54.00 target price for the company. Finally, William Blair started coverage on shares of Neurogene in a research note on Thursday, March 21st. They issued an “outperform” rating and a $61.00 target price for the company.

Institutional Trading of Neurogene

Several hedge funds and other institutional investors have recently made changes to their positions in NGNE. SG Americas Securities LLC acquired a new stake in shares of Neurogene in the first quarter valued at about $120,000. Privium Fund Management UK Ltd purchased a new position in Neurogene during the 1st quarter valued at about $274,000. BML Capital Management LLC purchased a new position in Neurogene during the 4th quarter valued at about $478,000. Avidity Partners Management LP purchased a new position in Neurogene during the 4th quarter valued at about $9,036,000. Finally, Great Point Partners LLC purchased a new position in Neurogene during the 4th quarter valued at about $19,268,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Trading Down 0.2 %

NASDAQ NGNE opened at $31.01 on Thursday. The firm has a fifty day moving average of $34.00. Neurogene has a 12 month low of $12.20 and a 12 month high of $53.00.

Neurogene (NASDAQ:NGNE) last posted its earnings results on Friday, May 10th. The company reported ($1.00) EPS for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.03. On average, research analysts forecast that Neurogene will post -4.15 EPS 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.