enGene Holdings Inc. (NASDAQ:ENGN) Receives $30.38 Consensus Price Target from Brokerages

enGene Holdings Inc. (NASDAQ:ENGN) has earned an average rating of “Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $30.38.

Several analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and issued a $30.00 price objective on shares of enGene in a research note on Tuesday, September 24th. Raymond James initiated coverage on enGene in a research note on Wednesday, November 27th. They set an “outperform” rating and a $23.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $40.00 target price on shares of enGene in a research note on Wednesday, September 11th. JMP Securities reissued a “market outperform” rating and set a $18.00 price target on shares of enGene in a research report on Friday. Finally, Citizens Jmp upgraded shares of enGene to a “strong-buy” rating in a research note on Monday, November 18th.

enGene Stock Up 0.1 %

NASDAQ:ENGN opened at $8.65 on Friday. The firm has a fifty day simple moving average of $8.15 and a two-hundred day simple moving average of $8.08. enGene has a 12 month low of $4.42 and a 12 month high of $18.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 19.52 and a current ratio of 19.52.

enGene (NASDAQ:ENGN) last issued its earnings results on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. As a group, sell-side analysts expect that enGene will post -1.52 earnings per share for the current year.

Insider Activity

In other enGene news, major shareholder Growth Opportunities F. Forbion bought 41,639 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was acquired at an average price of $5.97 per share, with a total value of $248,584.83. Following the transaction, the insider now owns 2,059,459 shares in the company, valued at $12,294,970.23. This represents a 2.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ronald Harold Wilfred Cooper purchased 10,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of $5.70 per share, for a total transaction of $57,000.00. Following the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at approximately $57,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 420,965 shares of company stock valued at $2,651,103. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On enGene

A number of hedge funds have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC purchased a new stake in enGene during the third quarter valued at $37,000. SR One Capital Management LP bought a new stake in shares of enGene during the 2nd quarter valued at about $4,715,000. Point72 Asset Management L.P. increased its position in shares of enGene by 1,410.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock valued at $4,376,000 after purchasing an additional 619,100 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of enGene by 48.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock worth $7,854,000 after purchasing an additional 389,918 shares during the period. Finally, Logos Global Management LP boosted its holdings in shares of enGene by 50.0% in the second quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock worth $11,316,000 after buying an additional 400,000 shares during the last quarter. 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.