enGene (NASDAQ:ENGN) Earns Overweight Rating from Analysts at Piper Sandler

Equities researchers at Piper Sandler assumed coverage on shares of enGene (NASDAQ:ENGN) in a report issued on Tuesday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $26.00 price target on the stock. Piper Sandler’s target price would indicate a potential upside of 340.68% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Raymond James started coverage on shares of enGene in a research note on Wednesday, November 27th. They issued an “outperform” rating and a $23.00 price target on the stock. HC Wainwright initiated coverage on enGene in a research report on Monday, December 23rd. They issued a “buy” rating and a $25.00 target price on the stock. Citizens Jmp upgraded enGene to a “strong-buy” rating in a research report on Monday, November 18th. UBS Group downgraded enGene from a “buy” rating to a “neutral” rating and cut their price objective for the company from $34.00 to $7.00 in a report on Friday. Finally, JMP Securities restated a “market outperform” rating and set a $18.00 target price on shares of enGene in a report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $26.40.

enGene Price Performance

ENGN stock opened at $5.90 on Tuesday. enGene has a 52-week low of $4.42 and a 52-week high of $18.40. The company has a quick ratio of 16.87, a current ratio of 16.87 and a debt-to-equity ratio of 0.08. The stock has a market cap of $260.90 million, a price-to-earnings ratio of -10.17 and a beta of -0.65. The business has a fifty day moving average of $6.83 and a two-hundred day moving average of $7.23.

enGene (NASDAQ:ENGN) last issued its quarterly earnings data on Thursday, December 19th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. As a group, research analysts anticipate that enGene will post -1.57 earnings per share for the current year.

Hedge Funds Weigh In On enGene

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in enGene by 48.7% in the third 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. increased its position in shares of enGene by 1,410.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 663,000 shares of the company’s stock valued at $4,376,000 after purchasing an additional 619,100 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of enGene in the 3rd quarter valued at $37,000. Cubist Systematic Strategies LLC lifted its position in shares of enGene by 15.7% during the 4th quarter. Cubist Systematic Strategies LLC now owns 15,342 shares of the company’s stock worth $102,000 after purchasing an additional 2,080 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new position in shares of enGene during the fourth quarter worth $2,460,000. 64.16% of the stock is owned by institutional investors and hedge funds.

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.