Compugen (NASDAQ:CGEN) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Compugen (NASDAQ:CGEN) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $4.00 price target on the biotechnology company’s stock. Oppenheimer’s price target would indicate a potential upside of 143.90% from the company’s previous close.

Compugen Stock Up 3.1 %

Shares of CGEN opened at $1.64 on Monday. The firm has a market cap of $146.35 million, a PE ratio of 82.00 and a beta of 2.59. The company’s fifty day moving average is $1.58 and its two-hundred day moving average is $1.72. Compugen has a fifty-two week low of $1.35 and a fifty-two week high of $3.03.

Compugen (NASDAQ:CGEN) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.20). The company had revenue of $17.13 million during the quarter, compared to analyst estimates of $17.67 million. Compugen had a net margin of 2.67% and a return on equity of 2.62%. During the same quarter last year, the business earned ($0.11) EPS. As a group, equities research analysts anticipate that Compugen will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On Compugen

Hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. raised its stake in shares of Compugen by 75.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,350 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 8,350 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Compugen by 82.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 274,335 shares of the biotechnology company’s stock valued at $497,000 after acquiring an additional 124,190 shares during the period. Squarepoint Ops LLC raised its stake in shares of Compugen by 23.4% in the 2nd quarter. Squarepoint Ops LLC now owns 85,693 shares of the biotechnology company’s stock valued at $144,000 after acquiring an additional 16,253 shares during the period. Atom Investors LP raised its stake in shares of Compugen by 27.5% in the 3rd quarter. Atom Investors LP now owns 151,816 shares of the biotechnology company’s stock valued at $275,000 after acquiring an additional 32,701 shares during the period. Finally, Joel Isaacson & Co. LLC raised its stake in shares of Compugen by 136.4% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 52,000 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 30,000 shares during the period. Institutional investors and hedge funds own 12.22% of the company’s stock.

Compugen Company Profile

Compugen Ltd., a clinical-stage therapeutic discovery and development company, researches, develops, and commercializes therapeutic and product candidates in Israel, the United States, and Europe. The company’s immuno-oncology pipeline consists of COM701, an anti-PVRIG antibody that is in Phase I clinical study used for the treatment of solid tumors; COM902, a therapeutic antibody targeting TIGIT, which is in Phase I monotherapy clinical study in patients with advanced malignancies through sequential dose escalations; Bapotulimab, a therapeutic antibody targeting ILDR2 that is in Phase I clinical study in patients with naïve head and neck squamous cell carcinoma; and Rilvegostomig, a novel anti-TIGIT/PD-1 bispecific antibody, which is in Phase II clinical study in patients with advanced or metastatic non-small cell lung cancer.