Neurogene Inc. (NASDAQ:NGNE) Receives $51.00 Consensus Price Target from Brokerages

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

Several research firms have recently issued reports on NGNE. HC Wainwright reduced their target price on Neurogene from $51.00 to $49.00 and set a “buy” rating for the company in a report on Monday, August 12th. BMO Capital Markets started coverage on Neurogene in a research note on Thursday, June 27th. They issued an “outperform” rating and a $65.00 price objective for the company. Robert W. Baird initiated coverage on Neurogene in a research note on Tuesday, June 11th. They set an “outperform” rating and a $54.00 target price on the stock. Finally, Baird R W raised shares of Neurogene to a “strong-buy” rating in a report on Tuesday, June 11th.

Neurogene Stock Performance

Shares of NASDAQ:NGNE opened at $41.96 on Friday. The stock’s fifty day simple moving average is $38.18 and its two-hundred day simple moving average is $37.70. Neurogene has a 1-year low of $12.49 and a 1-year high of $53.00.

Neurogene (NASDAQ:NGNE) last released its quarterly earnings results on Friday, August 9th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.07). The company had revenue of $0.93 million for the quarter. As a group, research analysts expect that Neurogene will post -4.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quest Partners LLC bought a new stake in Neurogene in the 2nd quarter valued at about $55,000. SG Americas Securities LLC purchased a new position in shares of Neurogene in the first quarter worth about $120,000. Privium Fund Management UK Ltd bought a new stake in shares of Neurogene in the first quarter valued at approximately $274,000. Rhumbline Advisers purchased a new stake in shares of Neurogene during the 2nd quarter valued at approximately $491,000. Finally, Avoro Capital Advisors LLC bought a new position in Neurogene in the 2nd quarter worth approximately $802,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

About Neurogene

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.