Niagen Bioscience (NASDAQ:NAGE) Posts Earnings Results, Hits Estimates

Niagen Bioscience (NASDAQ:NAGE) released its quarterly earnings data on Tuesday. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01, Zacks reports. The company had revenue of $29.78 million for the quarter, compared to analysts’ expectations of $29.95 million. Niagen Bioscience had a net margin of 14.29% and a return on equity of 22.68%.

Niagen Bioscience Price Performance

NASDAQ:NAGE opened at $3.47 on Wednesday. The firm has a 50-day moving average of $3.43 and a 200-day moving average of $4.37. The company has a market cap of $276.36 million, a PE ratio of 16.52 and a beta of 2.09. Niagen Bioscience has a one year low of $3.12 and a one year high of $11.29.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NAGE shares. HC Wainwright reaffirmed a “buy” rating on shares of Niagen Bioscience in a research note on Wednesday, July 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Niagen Bioscience in a research note on Friday, July 17th. Freedom Capital upgraded Niagen Bioscience to a “strong-buy” rating in a report on Monday, July 6th. Canaccord Genuity Group lowered their target price on Niagen Bioscience from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, Wall Street Zen cut Niagen Bioscience from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $10.50.

Hedge Funds Weigh In On Niagen Bioscience

Several large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. bought a new stake in Niagen Bioscience during the 3rd quarter worth approximately $45,000. Quantbot Technologies LP purchased a new stake in shares of Niagen Bioscience in the third quarter worth approximately $48,000. Kestra Advisory Services LLC bought a new position in shares of Niagen Bioscience in the fourth quarter valued at approximately $70,000. SummitTX Capital L.P. bought a new position in shares of Niagen Bioscience in the fourth quarter valued at approximately $79,000. Finally, Martingale Asset Management L P purchased a new position in shares of Niagen Bioscience during the fourth quarter valued at approximately $85,000. Institutional investors own 15.41% of the company’s stock.

About Niagen Bioscience

Niagen Bioscience, Inc is a global bioscience company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It is pioneering research on nicotinamide adenine dinucleotide (NAD+). The company’s patent portfolio includes Nicotinamide Riboside (NR) and other NAD+ precursors, which are commercialized as the flagship ingredient Niagen. It operates through the following segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services.