Neurogene FY2024 EPS Forecast Reduced by Leerink Partnrs

Neurogene Inc. (NASDAQ:NGNE) – Leerink Partnrs dropped their FY2024 earnings per share estimates for Neurogene in a note issued to investors on Monday, November 18th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings per share of ($4.52) for the year, down from their prior estimate of ($4.40). The consensus estimate for Neurogene’s current full-year earnings is ($4.45) per share. Leerink Partnrs also issued estimates for Neurogene’s Q4 2024 earnings at ($1.22) EPS, FY2025 earnings at ($4.49) EPS and FY2026 earnings at ($5.96) EPS.

NGNE has been the topic of a number of other research reports. BMO Capital Markets reduced their target price on Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday. Leerink Partners raised their price target on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price target on shares of Neurogene in a research report on Tuesday. Stifel Nicolaus raised their price target on Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Neurogene in a research report on Tuesday. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Neurogene has an average rating of “Buy” and an average target price of $60.83.

Neurogene Stock Performance

Shares of NGNE opened at $15.59 on Thursday. Neurogene has a 1 year low of $12.49 and a 1 year high of $74.49. The stock’s 50-day moving average price is $45.41 and its two-hundred day moving average price is $39.62.

Institutional Investors Weigh In On Neurogene

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in Neurogene in the 2nd quarter valued at approximately $55,000. BNP Paribas Financial Markets increased its position in shares of Neurogene by 192.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after purchasing an additional 1,429 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Neurogene during the 1st quarter worth approximately $120,000. MetLife Investment Management LLC acquired a new position in shares of Neurogene during the 3rd quarter worth approximately $254,000. Finally, Jane Street Group LLC acquired a new position in shares of Neurogene during the 3rd quarter worth approximately $324,000. Institutional investors and hedge funds 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.