William Blair Decreases Earnings Estimates for Neurogene

Neurogene Inc. (NASDAQ:NGNE) – William Blair lowered their FY2024 EPS estimates for Neurogene in a research report issued on Tuesday, November 19th. William Blair analyst S. Corwin now anticipates that the company will earn ($4.33) per share for the year, down from their previous forecast of ($4.31). William Blair currently 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.

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

Neurogene Stock Down 11.0 %

NASDAQ NGNE opened at $15.33 on Thursday. Neurogene has a 12-month low of $12.49 and a 12-month high of $74.49. The company has a fifty day simple moving average of $45.90 and a two-hundred day simple moving average of $39.79.

Hedge Funds Weigh In On Neurogene

Several institutional investors have recently made changes to their positions in the company. Driehaus Capital Management LLC boosted its holdings in Neurogene by 123.8% during the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after buying an additional 56,533 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Neurogene in the second quarter worth about $1,107,000. Vanguard Group Inc. boosted its stake in shares of Neurogene by 906.5% during the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock worth $25,831,000 after acquiring an additional 457,062 shares in the last quarter. Marshall Wace LLP grew its position in shares of Neurogene by 37.2% during the 2nd quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock valued at $1,508,000 after acquiring an additional 11,229 shares during the period. Finally, Integral Health Asset Management LLC acquired a new stake in shares of Neurogene during the 2nd quarter valued at about $2,547,000. 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.