Zacks Investment Research upgraded shares of Compugen (NASDAQ:CGEN) from a hold rating to a buy rating in a research report report published on Monday. They currently have $3.75 price target on the biotechnology company’s stock.
According to Zacks, “Compugen Ltd. is a pioneer in the fields of computational genomics and proteomics. The company combines the disciplines of mathematics and computer science with molecular biology to improve the understanding of genomics and proteomics, the study of genes and proteins. Compugen’s expertise in these areas is used to develop core technologies and platforms that are the basis for its products and services. These products and services are designed to enable life scientists to significantly enhance their research efforts in drug discovery. “
CGEN has been the subject of several other reports. ValuEngine downgraded Compugen from a hold rating to a sell rating in a research report on Wednesday, March 7th. CIBC began coverage on Compugen in a research report on Thursday, March 29th. They issued an outperform rating for the company. Finally, Oppenheimer began coverage on Compugen in a research report on Thursday, March 29th. They issued an outperform rating and a $9.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Compugen currently has an average rating of Buy and a consensus price target of $8.92.
NASDAQ CGEN opened at $3.30 on Monday. The stock has a market capitalization of $171.83 million, a price-to-earnings ratio of -4.58 and a beta of 0.26. Compugen has a 1-year low of $3.35 and a 1-year high of $3.45.
Compugen (NASDAQ:CGEN) last released its earnings results on Wednesday, February 21st. The biotechnology company reported ($0.18) earnings per share for the quarter. equities research analysts anticipate that Compugen will post -0.44 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Paloma Partners Management Co purchased a new position in shares of Compugen in the 4th quarter valued at about $105,000. Taylor Frigon Capital Management LLC purchased a new position in shares of Compugen in the 4th quarter valued at about $707,000. ARK Investment Management LLC boosted its stake in shares of Compugen by 95.9% in the 4th quarter. ARK Investment Management LLC now owns 2,253,416 shares of the biotechnology company’s stock valued at $5,634,000 after buying an additional 1,103,384 shares during the period. Virtu Financial LLC purchased a new position in shares of Compugen in the 4th quarter valued at about $162,000. Finally, Anson Funds Management LP purchased a new position in shares of Compugen in the 4th quarter valued at about $281,000. 19.42% of the stock is owned by institutional investors.
Compugen Ltd., a therapeutic discovery company, engages in the research, development, and commercialization of therapeutic and product candidates in Israel and Europe. The company's pipeline primarily includes early and preclinical stage immuno-oncology programs based on novel drug targets, such as immune checkpoint and myeloid protein target candidates to harness the immune system to provide treatment solutions in the areas of unmet medical needs in various cancer types and patient populations.
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