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

enGene Holdings Inc. (NASDAQ:ENGN - Get Free Report) has earned a consensus recommendation of "Buy" from the ten brokerages that are currently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $30.38.

A number of brokerages have issued reports on ENGN. Oppenheimer reissued an "outperform" rating and set a $30.00 target price on shares of enGene in a report on Tuesday, September 24th. Citizens Jmp upgraded shares of enGene to a "strong-buy" rating in a research report on Monday, November 18th. Morgan Stanley reiterated an "overweight" rating and set a $40.00 target price on shares of enGene in a report on Wednesday, September 11th. Raymond James assumed coverage on shares of enGene in a research note on Wednesday, November 27th. They issued an "outperform" rating and a $23.00 price target for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $18.00 target price on shares of enGene in a research note on Friday.

enGene Stock Performance

ENGN stock traded up $0.01 during midday trading on Friday, reaching $8.65. 98,090 shares of the company were exchanged, compared to its average volume of 116,053. 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 business has a 50-day moving average price of $8.10 and a two-hundred day moving average price of $8.18. enGene has a one year low of $4.42 and a one year high of $18.40. The firm has a market capitalization of $382.50 million, a price-to-earnings ratio of -5.31 and a beta of -0.78.

enGene (NASDAQ:ENGN - Get Free Report) last posted its quarterly earnings results on Tuesday, September 10th. The company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.37) by $0.05. Equities research analysts forecast that enGene will post -1.52 EPS for the current year.

Insider Transactions at enGene

In related news, major shareholder Growth Opportunities F. Forbion acquired 5,997 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were acquired at an average cost of $6.54 per share, for a total transaction of $39,220.38. Following the completion of the purchase, the insider now directly owns 2,457,989 shares in the company, valued at $16,075,248.06. This trade represents a 0.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ronald Harold Wilfred Cooper purchased 10,000 shares of the company's stock in a transaction on Friday, September 27th. The stock was acquired at an average price of $5.70 per share, for a total transaction of $57,000.00. Following the completion of the transaction, the chief executive officer now owns 10,000 shares of the company's stock, valued at $57,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 420,965 shares of company stock worth $2,651,103 in the last three months. Company insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On enGene

A number of institutional investors have recently bought and sold shares of the stock. Logos Global Management LP grew its stake in enGene by 50.0% during the 2nd quarter. Logos Global Management LP now owns 1,200,000 shares of the company's stock valued at $11,316,000 after acquiring an additional 400,000 shares in the last quarter. Franklin Resources Inc. grew its stake in enGene by 48.7% during the 3rd 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. grew its stake in enGene by 1,410.3% during 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 in the last quarter. SR One Capital Management LP purchased a new position in enGene during the 2nd quarter valued at about $4,715,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of enGene in the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 64.16% of the company's stock.

enGene Company Profile

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.