Morgan Stanley Raises enGene (NASDAQ:ENGN) Price Target to $19.00

enGene (NASDAQ:ENGN) had its target price raised by equities researchers at Morgan Stanley from $18.00 to $19.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 106.50% from the stock’s current price.

A number of other equities analysts have also issued reports on ENGN. Citizens Jmp increased their price target on enGene from $18.00 to $21.00 and gave the company a “market outperform” rating in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of enGene in a research note on Monday, September 8th. Citigroup reaffirmed a “market outperform” rating on shares of enGene in a report on Wednesday. Raymond James Financial raised shares of enGene from an “outperform” rating to a “strong-buy” rating and set a $27.00 price target for the company in a report on Tuesday. Finally, UBS Group raised their price objective on shares of enGene from $4.00 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.38.

enGene Stock Up 4.3%

Shares of NASDAQ ENGN traded up $0.38 during trading on Wednesday, reaching $9.20. 1,110,669 shares of the stock were exchanged, compared to its average volume of 383,370. The business’s 50-day moving average price is $7.12 and its 200 day moving average price is $4.92. The company has a quick ratio of 10.34, a current ratio of 10.34 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $471.02 million, a price-to-earnings ratio of -4.84 and a beta of -0.27. enGene has a twelve month low of $2.65 and a twelve month high of $11.14.

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

Institutional Investors Weigh In On enGene

Hedge funds have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. increased its position in shares of enGene by 2.7% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,571,642 shares of the company’s stock valued at $7,041,000 after acquiring an additional 41,874 shares in the last quarter. MAI Capital Management raised its holdings in shares of enGene by 11.0% during the 1st quarter. MAI Capital Management now owns 78,067 shares of the company’s stock worth $350,000 after acquiring an additional 7,756 shares in the last quarter. Affinity Asset Advisors LLC bought a new position in shares of enGene during the 2nd quarter valued at approximately $280,000. ADAR1 Capital Management LLC purchased a new position in shares of enGene in the first quarter valued at $107,000. Finally, Paloma Partners Management Co bought a new stake in enGene in the second quarter worth $38,000. 64.16% of the stock is owned by institutional investors.

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.