Neurogene (NASDAQ:NGNE) Given New $60.00 Price Target at Stifel Nicolaus

Neurogene (NASDAQ:NGNE) had its target price raised by Stifel Nicolaus from $44.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also issued reports on NGNE. BMO Capital Markets decreased their target price on shares of Neurogene from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday. HC Wainwright raised their price objective on Neurogene from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird lifted their price objective on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Leerink Partners increased their target price on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $63.33.

Neurogene Price Performance

Shares of Neurogene stock opened at $40.00 on Tuesday. The firm has a 50-day moving average of $46.77 and a 200-day moving average of $40.05. Neurogene has a 52-week low of $12.49 and a 52-week high of $74.49.

Institutional Trading of Neurogene

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of Neurogene in the 2nd quarter worth approximately $55,000. SG Americas Securities LLC bought a new position in Neurogene during the first quarter worth $120,000. Rhumbline Advisers acquired a new position in Neurogene in the second quarter valued at $491,000. Avoro Capital Advisors LLC bought a new stake in Neurogene during the second quarter valued at $802,000. Finally, Bank of New York Mellon Corp acquired a new stake in Neurogene during the 2nd quarter worth about $1,107,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Neurogene

Neurogene Inc, a biotechnology company, develops genetic medicines for rare neurological diseases. The company's product candidates include NGN-401 which is packaged in an adeno-associated virus 9 that is in Phase 1/2 clinical trial for the treatment of Rett syndrome; and NGN-101, a conventional gene therapy candidate that is in Phase 1/2 clinical trial to treat CLN5 Batten disease.