Leerink Partnrs Research Analysts Reduce Earnings Estimates for enGene Holdings Inc. (NASDAQ:ENGN)

enGene Holdings Inc. (NASDAQ:ENGN) – Leerink Partnrs lowered their FY2024 earnings per share estimates for enGene in a research report issued on Tuesday, September 10th. Leerink Partnrs analyst M. Foroohar now expects that the company will post earnings per share of ($1.48) for the year, down from their prior estimate of ($0.94). The consensus estimate for enGene’s current full-year earnings is ($1.49) per share. Leerink Partnrs also issued estimates for enGene’s Q4 2024 earnings at ($0.36) EPS, FY2025 earnings at ($1.68) EPS, FY2026 earnings at ($2.69) EPS, FY2027 earnings at ($1.61) EPS and FY2028 earnings at $0.76 EPS.

A number of other research analysts have also commented on the company. Oppenheimer initiated coverage on enGene in a research note on Wednesday, August 28th. They issued an “outperform” rating and a $30.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $40.00 price objective on shares of enGene in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $33.67.

enGene Stock Performance

Shares of ENGN opened at $6.69 on Friday. enGene has a fifty-two week low of $4.94 and a fifty-two week high of $43.00. The company has a current ratio of 19.52, a quick ratio of 42.80 and a debt-to-equity ratio of 0.09. The business’s 50-day moving average is $7.49 and its 200-day moving average is $11.44.

enGene (NASDAQ:ENGN) last issued its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.05.

Hedge Funds Weigh In On enGene

Several institutional investors have recently made changes to their positions in ENGN. BVF Inc. IL acquired a new position in shares of enGene during the 4th quarter valued at about $20,777,000. Omega Fund Management LLC purchased a new stake in enGene during the fourth quarter worth about $10,441,000. Altitude Crest Partners Inc. purchased a new stake in enGene during the first quarter worth about $2,039,000. Janus Henderson Group PLC purchased a new stake in enGene during the first quarter worth about $17,095,000. Finally, SR One Capital Management LP purchased a new stake in shares of enGene during the second quarter worth approximately $4,715,000. 64.16% of the stock is owned by hedge funds and other institutional investors.

About enGene

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.