Neurogene (NASDAQ:NGNE) Earns Outperform Rating from Leerink Partnrs

Leerink Partnrs reaffirmed their outperform rating on shares of Neurogene (NASDAQ:NGNE) in a report issued on Monday morning, Zacks.com reports. Leerink Partnrs also issued estimates for Neurogene’s Q1 2024 earnings at ($1.19) EPS.

Other research analysts have also issued research reports about the stock. SVB Leerink started coverage on shares of Neurogene in a research note on Monday. They set an outperform rating and a $46.00 price objective for the company. William Blair started coverage on shares of Neurogene in a research note on Thursday, March 21st. They set an outperform rating and a $61.00 price objective for the company. HC Wainwright boosted their price objective on shares of Neurogene from $45.00 to $55.00 and gave the stock a buy rating in a research note on Tuesday, March 19th. TD Cowen initiated coverage on shares of Neurogene in a research note on Thursday, January 4th. They set an outperform rating on the stock. Finally, Stifel Nicolaus initiated coverage on shares of Neurogene in a research note on Friday, January 5th. They set a buy rating and a $31.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Neurogene presently has a consensus rating of Buy and an average target price of $48.25.

Neurogene Price Performance

Shares of NGNE opened at $33.77 on Monday. The stock has a 50 day simple moving average of $38.08. Neurogene has a fifty-two week low of $12.20 and a fifty-two week high of $53.00. The stock has a market cap of $434.48 million, a PE ratio of -2.71 and a beta of 1.26.

Institutional Trading of Neurogene

A number of hedge funds have recently added to or reduced their stakes in NGNE. Privium Fund Management UK Ltd purchased a new position in Neurogene during the first quarter valued at $274,000. BML Capital Management LLC purchased a new position in Neurogene during the fourth quarter valued at $478,000. Avidity Partners Management LP purchased a new position in Neurogene during the fourth quarter valued at $9,036,000. Finally, Great Point Partners LLC purchased a new position in Neurogene during the fourth quarter valued at $19,268,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.