Intrexon Corp. (XON) Rating Increased to Hold at Zacks Investment Research
Intrexon Corp. (NYSE:XON) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Intrexon is a leader in the synthetic biology field, with its focus on the broad delivery of bioindustrial engineering to design and create solutions across five key sectors – health, food, energy, environment and consumer. We believe that the company’s core area – synthetic biology – holds huge potential. Intrexon’s expanding portfolio of technologies has enabled the company to develop a robust pipeline of candidates targeting a broad range of diseases including cancer and others. We are positive on the company’s efforts to expand through acquisitions, exclusive channel collaborations (ECCs) and joint ventures (JV). Estimates are mostly stable ahead of Q3 results. However, Intrexon depends largely on ECCs and license and collaboration agreements for revenues. Any unfavorable outcome from any of the development programs could become a major setback for the company and dent its operating results and prospects.”
Several other research firms have also issued reports on XON. Vetr upgraded shares of Intrexon Corp. from a “strong sell” rating to a “buy” rating and set a $27.01 target price for the company in a research note on Thursday, July 28th. Griffin Securities reiterated a “buy” rating and issued a $55.00 target price on shares of Intrexon Corp. in a research note on Tuesday, August 16th. JMP Securities reiterated a “buy” rating on shares of Intrexon Corp. in a research note on Sunday, July 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $57.00 target price on shares of Intrexon Corp. in a research note on Wednesday, June 29th. Finally, Wunderlich reiterated a “buy” rating and issued a $50.00 target price on shares of Intrexon Corp. in a research note on Thursday, July 7th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $41.71.
Shares of Intrexon Corp. (NYSE:XON) opened at 26.35 on Monday. The firm has a 50-day moving average of $27.39 and a 200 day moving average of $27.65. Intrexon Corp. has a 52 week low of $18.52 and a 52 week high of $43.76. The firm’s market cap is $3.12 billion.
Intrexon Corp. (NYSE:XON) last posted its earnings results on Tuesday, August 9th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by $0.16. Intrexon Corp. had a negative return on equity of 19.00% and a negative net margin of 96.65%. The firm earned $52.50 million during the quarter, compared to the consensus estimate of $53.78 million. During the same quarter in the previous year, the company earned ($0.37) EPS. The business’s revenue was up 17.0% compared to the same quarter last year. Equities research analysts predict that Intrexon Corp. will post ($1.36) EPS for the current fiscal year.
In related news, SVP Nir Nimrodi purchased 4,000 shares of the stock in a transaction dated Monday, August 29th. The stock was purchased at an average price of $26.12 per share, with a total value of $104,480.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 55.10% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Aperio Group LLC acquired a new position in shares of Intrexon Corp. during the first quarter worth $299,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Intrexon Corp. by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,195,625 shares of the company’s stock worth $40,520,000 after buying an additional 12,081 shares during the period. Sanders Morris Harris Inc. raised its position in shares of Intrexon Corp. by 93.6% in the second quarter. Sanders Morris Harris Inc. now owns 85,000 shares of the company’s stock worth $2,092,000 after buying an additional 41,100 shares during the period. BlackRock Inc. raised its position in shares of Intrexon Corp. by 321.0% in the first quarter. BlackRock Inc. now owns 5,780 shares of the company’s stock worth $195,000 after buying an additional 4,407 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Intrexon Corp. during the second quarter worth $5,312,000. 84.10% of the stock is owned by institutional investors and hedge funds.
About Intrexon Corp.
Intrexon Corporation (Intrexon) forms collaborations to create biologically based products and processes using synthetic biology. The Company designs, builds and regulates gene programs, which are deoxyribonucleic acid (DNA) sequences that consist of genetic components. The Company’s synthetic biology capabilities include the ability to control the amount, location and modification of biological molecules to control the function and output of living cells and optimize for desired results at an industrial scale.
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