Leerink Partnrs Reduces Earnings Estimates for Neurogene

Neurogene Inc. (NASDAQ:NGNE) – Leerink Partnrs lowered their FY2024 earnings estimates for shares of Neurogene in a research note issued on Monday, November 18th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings of ($4.52) per share for the year, down from their prior 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.

Several other equities research analysts have also issued reports on NGNE. BMO Capital Markets dropped their target price on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. William Blair reissued an “outperform” rating on shares of Neurogene in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price target on shares of Neurogene in a research note on Tuesday. Finally, Leerink Partners increased their price objective on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $60.83.

Neurogene Price Performance

NASDAQ:NGNE opened at $20.30 on Thursday. The stock has a fifty day moving average of $44.97 and a 200 day moving average of $39.53. Neurogene has a 52-week low of $12.49 and a 52-week high of $74.49.

Hedge Funds Weigh In On Neurogene

A number of large investors have recently bought and sold shares of NGNE. SG Americas Securities LLC bought a new position in shares of Neurogene in the first quarter worth approximately $120,000. Vanguard Group Inc. boosted its position in Neurogene by 906.5% during the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after buying an additional 457,062 shares during the period. Baker BROS. Advisors LP increased its position in shares of 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 period. Bank of New York Mellon Corp purchased a new position in shares of Neurogene in the second quarter valued at about $1,107,000. Finally, Rhumbline Advisers bought a new position in shares of Neurogene during the second quarter valued at about $491,000. 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.