Neurogene (NASDAQ:NGNE) Announces Quarterly Earnings Results, Beats Expectations By $0.31 EPS

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

Neurogene Price Performance

Shares of NGNE stock traded up $0.25 during trading on Wednesday, hitting $25.53. 41,175 shares of the stock traded hands, compared to its average volume of 220,358. The firm has a market capitalization of $510.84 million, a P/E ratio of -4.99 and a beta of 1.75. The firm’s fifty day moving average price is $29.03 and its 200-day moving average price is $28.01. Neurogene has a 52-week low of $15.93 and a 52-week high of $43.66.

Analyst Upgrades and Downgrades

NGNE has been the topic of several recent research reports. Wall Street Zen cut Neurogene from a “sell” rating to a “strong sell” rating in a report on Saturday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a report on Thursday, October 15th. 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. Guggenheim lifted their price objective on Neurogene from $69.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, William Blair raised Neurogene to a “strong-buy” rating in a research note on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $79.57.

Neurogene Company Profile

Neurogene Inc. is a clinical-stage biotechnology company developing genetic medicines for rare neurological diseases. Its work focuses on using gene therapy to address the underlying causes of disorders with limited treatment options. The company’s lead program, NGN-401, is an investigational gene therapy for Rett syndrome, a rare genetic disorder that primarily affects girls and can cause significant developmental and neurological challenges. Neurogene is also advancing a broader pipeline of potential genetic medicines for rare diseases.