FY2024 EPS Estimates for Neurogene Lowered by William Blair

Neurogene Inc. (NASDAQ:NGNE) – Stock analysts at William Blair decreased their FY2024 earnings estimates for shares of Neurogene in a research report issued to clients and investors on Tuesday, November 19th. William Blair analyst S. Corwin now forecasts that the company will post earnings of ($4.33) per share for the year, down from their prior estimate of ($4.31). William Blair has a “Outperform” rating on the stock. The consensus estimate for Neurogene’s current full-year earnings is ($4.45) per share. William Blair also issued estimates for Neurogene’s Q4 2024 earnings at ($1.04) EPS, Q1 2025 earnings at ($1.08) EPS, Q2 2025 earnings at ($1.05) EPS, Q3 2025 earnings at ($1.09) EPS, Q4 2025 earnings at ($1.11) EPS and FY2025 earnings at ($4.32) EPS.

Several other research analysts have also recently issued reports on the company. Robert W. Baird raised their target price on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Neurogene in a research report on Tuesday. BMO Capital Markets decreased their price target on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday. Leerink Partners lifted their price target on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus upped their price objective on Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $60.83.

Neurogene Stock Performance

NGNE stock opened at $15.33 on Thursday. Neurogene has a 1 year low of $12.49 and a 1 year high of $74.49. The stock’s fifty day moving average price is $45.90 and its 200-day moving average price is $39.79.

Institutional Investors Weigh In On Neurogene

A number of institutional investors have recently added to or reduced their stakes in NGNE. FMR LLC lifted its position in shares of Neurogene by 912.4% in the third quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after buying an additional 659,515 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Neurogene by 906.5% in the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after acquiring an additional 457,062 shares during the period. Jennison Associates LLC bought a new position in shares of Neurogene in the 3rd quarter worth $3,300,000. Integral Health Asset Management LLC purchased a new stake in shares of Neurogene during the 2nd quarter worth $2,547,000. Finally, RTW Investments LP grew its stake in Neurogene by 6.0% in the third quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock valued at $47,635,000 after purchasing an additional 64,691 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

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.