Neurogene (NASDAQ:NGNE) Posts Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Neurogene (NASDAQ:NGNE) issued its earnings results on Monday. The company reported ($1.05) EPS for the quarter, beating the consensus estimate of ($1.36) by $0.31, FiscalAI reports.

Neurogene Price Performance

Shares of NASDAQ:NGNE traded up $0.25 during mid-day trading on Tuesday, reaching $26.25. 20,149 shares of the company traded hands, compared to its average volume of 219,610. The company’s 50 day moving average price is $29.25 and its 200-day moving average price is $27.98. Neurogene has a 52 week low of $15.93 and a 52 week high of $43.66. The firm has a market cap of $525.30 million, a PE ratio of -5.22 and a beta of 1.75.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NGNE shares. HC Wainwright cut their price target on Neurogene from $65.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday. Wall Street Zen cut shares of Neurogene from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research report on Thursday, October 15th. JPMorgan Chase & Co. started coverage on Neurogene in a research report on Thursday, October 8th. They set an “overweight” rating and a $60.00 price target for the company. Finally, William Blair upgraded shares of Neurogene to a “strong-buy” rating in a research note on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Neurogene presently has a consensus rating of “Buy” and a consensus target price of $79.57.

Neurogene Company Profile

Neurogene Inc (NASDAQ: NGNE) is a clinical-stage biotechnology company focused on developing genetic medicines for patients with rare neurological diseases. The company designs gene therapies intended to address the underlying genetic causes of disorders for which treatment options are limited or unavailable.

Neurogene’s lead program is NGN-401, an investigational gene therapy being developed for Rett syndrome, a rare neurodevelopmental disorder. The company is also advancing NGN-101 for CLN5 Batten disease, a form of neuronal ceroid lipofuscinosis.