enGene Holdings Inc. (NASDAQ:ENGN) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of enGene Holdings Inc. (NASDAQ:ENGN) have been given a consensus recommendation of “Buy” by the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $29.78.

ENGN has been the topic of a number of research reports. Oppenheimer restated an “outperform” rating and issued a $30.00 price target on shares of enGene in a research note on Tuesday, September 24th. JMP Securities restated a “market outperform” rating and set a $18.00 price target on shares of enGene in a research note on Monday, December 23rd. Raymond James started coverage on shares of enGene in a research report on Wednesday, November 27th. They set an “outperform” rating and a $23.00 price target for the company. HC Wainwright initiated coverage on shares of enGene in a report on Monday, December 23rd. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 target price on shares of enGene in a report on Wednesday, September 11th.

enGene Price Performance

NASDAQ ENGN opened at $7.49 on Tuesday. enGene has a 12 month low of $4.42 and a 12 month high of $18.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 19.52 and a quick ratio of 19.52. The stock’s fifty day moving average price is $7.64 and its 200-day moving average price is $7.64.

enGene (NASDAQ:ENGN) last posted its earnings results on Thursday, December 19th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. On average, sell-side analysts expect that enGene will post -1.52 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Logos Global Management LP raised its position in shares of enGene by 50.0% during the second quarter. Logos Global Management LP now owns 1,200,000 shares of the company’s stock valued at $11,316,000 after buying an additional 400,000 shares during the last quarter. Franklin Resources Inc. grew its stake in enGene by 48.7% during the third quarter. Franklin Resources Inc. now owns 1,189,952 shares of the company’s stock valued at $7,854,000 after acquiring an additional 389,918 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in enGene by 1,410.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock valued at $4,376,000 after acquiring an additional 619,100 shares during the last quarter. SR One Capital Management LP purchased a new stake in enGene in the 2nd quarter worth $4,715,000. Finally, Wolverine Asset Management LLC bought a new position in shares of enGene during the 3rd quarter valued at about $37,000. 64.16% of the stock is owned by hedge funds and other institutional investors.

About enGene

enGene Holdings Inc, through its subsidiary enGene, Inc, operates as a clinical-stage biotechnology company that develops genetic medicines through the delivery of therapeutics to mucosal tissues and other organs. Its lead product candidate is EG-70 (detalimogene voraplasmid), which is a non-viral immunotherapy to treat non-muscle invasive bladder cancer patients with carcinoma-in-situ (Cis), who are unresponsive to treatment with Bacillus Calmette-Guérin.