Neurogene Inc. (NASDAQ:NGNE) Stock Has Consensus Target Price of $80.29 According to Analysts

Shares of Neurogene Inc. (NASDAQ:NGNE) have earned a consensus rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $80.29.

NGNE has been the topic of several analyst reports. JPMorgan Chase & Co. began coverage on shares of Neurogene in a research note on Thursday, October 8th. They set an “overweight” rating and a $60.00 price target on the stock. Wall Street Zen lowered shares of Neurogene from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 10th. William Blair raised shares of Neurogene to a “strong-buy” rating in a research note on Wednesday, September 23rd. HC Wainwright decreased their target price on shares of Neurogene from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Finally, Canaccord Genuity Group lowered their target price on shares of Neurogene from $180.00 to $166.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th.

Institutional Investors Weigh In On Neurogene

Several hedge funds have recently modified their holdings of NGNE. BlackRock Inc. purchased a new stake in Neurogene in the second quarter valued at approximately $33,274,000. Trails Edge Capital Partners LP purchased a new position in Neurogene during the second quarter worth approximately $22,483,133. Moore Capital Management LP purchased a new position in Neurogene during the second quarter worth approximately $4,454,000. Deutsche Bank AG acquired a new position in shares of Neurogene in the 2nd quarter valued at $3,354,000. Finally, Wellington Management Group LLP acquired a new position in shares of Neurogene in the 2nd quarter valued at $987,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Neurogene Stock Up 14.7%

NGNE opened at $26.99 on Wednesday. The firm has a market cap of $540.10 million, a P/E ratio of -5.37 and a beta of 1.70. Neurogene has a 52 week low of $15.93 and a 52 week high of $43.66. The business’s fifty day simple moving average is $31.26 and its 200 day simple moving average is $27.56.

Neurogene (NASDAQ:NGNE) last announced its earnings results on Tuesday, August 11th. The company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.42) by ($0.11). As a group, equities analysts expect that Neurogene will post -5.88 EPS for the current fiscal year.

Neurogene Company Profile

Neurogene Inc (NASDAQ: NGNE) is a clinical-stage biotechnology company focused on developing genetic medicines for patients with rare neurological diseases. The company designs gene therapies intended to address the underlying genetic causes of disorders for which treatment options are limited or unavailable.

Neurogene’s lead program is NGN-401, an investigational gene therapy being developed for Rett syndrome, a rare neurodevelopmental disorder. The company is also advancing NGN-101 for CLN5 Batten disease, a form of neuronal ceroid lipofuscinosis.