Neurogene FY2024 EPS Estimate Increased by Leerink Partnrs

Neurogene Inc. (NASDAQ:NGNE - Free Report) - Investment analysts at Leerink Partnrs lifted their FY2024 earnings estimates for shares of Neurogene in a report issued on Monday, November 4th. Leerink Partnrs analyst M. Foroohar now expects that the company will post earnings per share of ($4.40) for the year, up from their prior forecast of ($4.52). The consensus estimate for Neurogene's current full-year earnings is ($4.47) per share. Leerink Partnrs also issued estimates for Neurogene's Q4 2024 earnings at ($1.15) EPS, FY2025 earnings at ($4.55) EPS and FY2026 earnings at ($5.95) EPS.

Neurogene (NASDAQ:NGNE - Get Free Report) last released its earnings results on Friday, August 9th. The company reported ($1.09) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.07). The business had revenue of $0.93 million for the quarter.

Separately, HC Wainwright cut their price target on shares of Neurogene from $51.00 to $49.00 and set a "buy" rating for the company in a report on Monday, August 12th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $51.00.

Neurogene Stock Up 8.7 %

Shares of NASDAQ NGNE traded up $5.59 during midday trading on Thursday, reaching $69.50. 330,422 shares of the stock were exchanged, compared to its average volume of 125,398. The company has a 50 day simple moving average of $44.81 and a 200 day simple moving average of $39.16. Neurogene has a twelve month low of $12.49 and a twelve month high of $73.59.

Institutional Investors Weigh In On Neurogene

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in 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 acquiring an additional 457,062 shares during the last quarter. Baker BROS. Advisors LP lifted its position in Neurogene by 0.6% in the first quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company's stock valued at $23,211,000 after acquiring an additional 2,499 shares during the last quarter. Driehaus Capital Management LLC lifted its position in Neurogene by 123.8% in the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company's stock valued at $3,719,000 after acquiring an additional 56,533 shares during the last quarter. Integral Health Asset Management LLC purchased a new stake in Neurogene in the second quarter valued at $2,547,000. Finally, Marshall Wace LLP lifted its position in Neurogene by 37.2% in the second quarter. Marshall Wace LLP now owns 41,447 shares of the company's stock valued at $1,508,000 after acquiring an additional 11,229 shares during the last quarter. 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.