Neurogene (NASDAQ:NGNE) Now Covered by BMO Capital Markets

Equities researchers at BMO Capital Markets began coverage on shares of Neurogene (NASDAQ:NGNE) in a report released on Thursday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $65.00 price target on the stock. BMO Capital Markets’ price objective indicates a potential upside of 78.62% from the stock’s previous close.

A number of other research analysts also recently issued reports on NGNE. SVB Leerink began coverage on shares of Neurogene in a research note on Monday, April 29th. They issued an “outperform” rating and a $46.00 price target for the company. William Blair assumed coverage on shares of Neurogene in a research note on Thursday, March 21st. They set an “outperform” rating and a $61.00 target price for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Neurogene in a report on Monday, April 29th. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Neurogene in a report on Thursday, June 20th. Finally, Robert W. Baird began coverage on Neurogene in a report on Tuesday, June 11th. They issued an “outperform” rating and a $54.00 price target for the company. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $51.33.

Neurogene Price Performance

Shares of NGNE stock opened at $36.39 on Thursday. Neurogene has a 52 week low of $12.20 and a 52 week high of $53.00. The firm has a 50 day simple moving average of $33.95.

Neurogene (NASDAQ:NGNE) last released its earnings results on Friday, May 10th. The company reported ($1.00) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.03. As a group, equities analysts forecast that Neurogene will post -4.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Neurogene

Hedge funds have recently modified their holdings of the business. Baker BROS. Advisors LP boosted its stake in Neurogene by 0.6% during the 1st quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock worth $23,211,000 after purchasing an additional 2,499 shares during the period. Vanguard Group Inc. raised its holdings in shares of Neurogene by 906.5% in the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after buying an additional 457,062 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Neurogene during the first quarter worth about $120,000. Privium Fund Management UK Ltd purchased a new position in shares of Neurogene during the first quarter worth about $274,000. Finally, Great Point Partners LLC acquired a new position in Neurogene in the 4th quarter valued at about $19,268,000. 52.37% of the stock is currently 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.