Oppenheimer Initiates Coverage on Compugen (NASDAQ:CGEN)

Oppenheimer started coverage on shares of Compugen (NASDAQ:CGEN - Free Report) in a research report released on Monday, Marketbeat.com reports. The firm issued an outperform rating and a $4.00 target price on the biotechnology company's stock.

Compugen Price Performance

Shares of NASDAQ CGEN traded up $0.35 during midday trading on Monday, hitting $1.99. The stock had a trading volume of 3,458,343 shares, compared to its average volume of 1,047,908. The firm has a market cap of $177.58 million, a P/E ratio of 99.50 and a beta of 2.59. Compugen has a fifty-two week low of $1.35 and a fifty-two week high of $3.03. The company's 50-day simple moving average is $1.58 and its 200 day simple moving average is $1.72.

Compugen (NASDAQ:CGEN - Get Free Report) last released its earnings results on Tuesday, November 12th. The biotechnology company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.20). Compugen had a return on equity of 2.62% and a net margin of 2.67%. The business had revenue of $17.13 million for the quarter, compared to analyst estimates of $17.67 million. During the same period in the prior year, the firm posted ($0.11) EPS. Equities analysts expect that Compugen will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Compugen

Large investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. grew its stake in shares of Compugen by 75.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,350 shares of the biotechnology company's stock worth $35,000 after acquiring an additional 8,350 shares in the last quarter. Joel Isaacson & Co. LLC boosted its holdings in shares of Compugen by 136.4% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 52,000 shares of the biotechnology company's stock worth $94,000 after buying an additional 30,000 shares during the period. Squarepoint Ops LLC grew its holdings in Compugen by 23.4% in the 2nd quarter. Squarepoint Ops LLC now owns 85,693 shares of the biotechnology company's stock valued at $144,000 after buying an additional 16,253 shares in the last quarter. Atom Investors LP increased its holdings in shares of Compugen by 27.5% during the third quarter. Atom Investors LP now owns 151,816 shares of the biotechnology company's stock worth $275,000 after purchasing an additional 32,701 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Compugen by 82.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 274,335 shares of the biotechnology company's stock valued at $497,000 after buying an additional 124,190 shares in the last quarter. 12.22% of the stock is currently owned by institutional investors.

Compugen Company Profile

Compugen Ltd., a clinical-stage therapeutic discovery and development company, researches, develops, and commercializes therapeutic and product candidates in Israel, the United States, and Europe. The company's immuno-oncology pipeline consists of COM701, an anti-PVRIG antibody that is in Phase I clinical study used for the treatment of solid tumors; COM902, a therapeutic antibody targeting TIGIT, which is in Phase I monotherapy clinical study in patients with advanced malignancies through sequential dose escalations; Bapotulimab, a therapeutic antibody targeting ILDR2 that is in Phase I clinical study in patients with naïve head and neck squamous cell carcinoma; and Rilvegostomig, a novel anti-TIGIT/PD-1 bispecific antibody, which is in Phase II clinical study in patients with advanced or metastatic non-small cell lung cancer.