Neurogene FY2024 EPS Estimate Reduced by Leerink Partnrs

Neurogene Inc. (NASDAQ:NGNE - Free Report) - Investment analysts at Leerink Partnrs cut their FY2024 earnings estimates for shares of Neurogene in a research report issued on Monday, November 18th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will post earnings per share of ($4.52) for the year, down from their previous forecast of ($4.40). The consensus estimate for Neurogene's current full-year earnings is ($4.45) per share. Leerink Partnrs also issued estimates for Neurogene's Q4 2024 earnings at ($1.22) EPS, FY2025 earnings at ($4.49) EPS and FY2026 earnings at ($5.96) EPS.

NGNE has been the subject of several other research reports. William Blair restated an "outperform" rating on shares of Neurogene in a research note on Tuesday. BMO Capital Markets lowered their price objective on shares of Neurogene from $60.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday. Robert W. Baird upped their target price on shares of Neurogene from $54.00 to $72.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Leerink Partners raised their price target on shares of Neurogene from $45.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus upped their price objective on shares of Neurogene from $44.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $60.83.

Neurogene Stock Down 11.0 %

Shares of NASDAQ:NGNE opened at $15.33 on Thursday. The stock's 50-day moving average is $45.90 and its 200-day moving average is $39.79. Neurogene has a 52-week low of $12.49 and a 52-week high of $74.49.

Institutional Trading of Neurogene

Several institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Neurogene by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company's stock valued at $1,272,000 after acquiring an additional 741 shares during the period. BNP Paribas Financial Markets lifted its holdings in Neurogene by 192.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company's stock valued at $91,000 after purchasing an additional 1,429 shares during the last quarter. Quest Partners LLC acquired a new position in Neurogene in the second quarter valued at about $55,000. SG Americas Securities LLC bought a new stake in Neurogene during the first quarter worth about $120,000. Finally, Baker BROS. Advisors LP increased its holdings in shares of Neurogene by 0.6% during the first quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company's stock worth $23,211,000 after buying an additional 2,499 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

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.

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