Niagen Bioscience (NASDAQ:NAGE) Stock Rating Lowered by Wall Street Zen

Niagen Bioscience (NASDAQ:NAGE) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Several other analysts have also issued reports on the company. Roth Capital reissued a “buy” rating and set a $23.00 target price (up from $10.00) on shares of Niagen Bioscience in a report on Friday, June 6th. Canaccord Genuity Group increased their target price on Niagen Bioscience from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Finally, HC Wainwright increased their target price on Niagen Bioscience from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Niagen Bioscience currently has an average rating of “Buy” and an average price target of $13.42.

Niagen Bioscience Stock Performance

NAGE opened at $9.60 on Tuesday. The firm has a market cap of $765.60 million, a P/E ratio of 45.72 and a beta of 2.21. Niagen Bioscience has a 52-week low of $3.16 and a 52-week high of $14.69. The business’s fifty day moving average is $10.14 and its 200-day moving average is $8.98.

Niagen Bioscience (NASDAQ:NAGE) last released its earnings results on Wednesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $31.12 million for the quarter, compared to analyst estimates of $28.55 million. Niagen Bioscience had a return on equity of 23.12% and a net margin of 15.24%.

Institutional Trading of Niagen Bioscience

A number of hedge funds have recently made changes to their positions in the company. State of Wyoming acquired a new position in shares of Niagen Bioscience in the fourth quarter worth approximately $39,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Niagen Bioscience during the fourth quarter valued at approximately $53,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Niagen Bioscience during the fourth quarter valued at approximately $67,000. ProShare Advisors LLC bought a new stake in shares of Niagen Bioscience during the fourth quarter valued at approximately $74,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of Niagen Bioscience during the fourth quarter valued at approximately $94,000. 15.41% of the stock is owned by institutional investors and hedge funds.

About Niagen Bioscience

Niagen Bioscience, Inc is a global bioscience company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It is pioneering research on nicotinamide adenine dinucleotide (NAD+). The company’s patent portfolio includes Nicotinamide Riboside (NR) and other NAD+ precursors, which are commercialized as the flagship ingredient Niagen.