Raymond James Financial Upgrades enGene (NASDAQ:ENGN) to Strong-Buy

enGene (NASDAQ:ENGN) was upgraded by Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm presently has a $27.00 price objective on the stock. Raymond James Financial’s price objective would suggest a potential upside of 184.03% from the company’s previous close.

Several other analysts have also commented on ENGN. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of enGene in a report on Monday, September 8th. Weiss Ratings restated a “sell (d-)” rating on shares of enGene in a research note on Tuesday, October 14th. Finally, Morgan Stanley reduced their price target on enGene from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.17.

enGene Trading Up 58.2%

ENGN stock traded up $3.50 on Tuesday, reaching $9.51. The company’s stock had a trading volume of 31,792,318 shares, compared to its average volume of 250,131. The firm has a market cap of $486.61 million, a PE ratio of -5.09 and a beta of -0.27. The business has a fifty day simple moving average of $7.04 and a two-hundred day simple moving average of $4.89. enGene has a 12-month low of $2.65 and a 12-month high of $11.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.34 and a current ratio of 10.34.

enGene (NASDAQ:ENGN) last issued its quarterly earnings data on Thursday, September 11th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.06). As a group, research analysts forecast that enGene will post -1.56 EPS for the current year.

Hedge Funds Weigh In On enGene

A number of hedge funds have recently bought and sold shares of ENGN. PFS Partners LLC bought a new stake in enGene during the 3rd quarter valued at about $61,000. Cresset Asset Management LLC bought a new stake in shares of enGene during the second quarter valued at approximately $36,000. Paloma Partners Management Co bought a new stake in shares of enGene during the second quarter valued at approximately $38,000. ADAR1 Capital Management LLC purchased a new position in enGene in the 1st quarter worth approximately $107,000. Finally, Affinity Asset Advisors LLC bought a new position in enGene in the 2nd quarter valued at approximately $280,000. Institutional investors own 64.16% of the company’s stock.

About enGene

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.