Niagen Bioscience (NASDAQ:NAGE) Stock Gets Price Target Trim from Canaccord Genuity Group

Niagen Bioscience (NASDAQ:NAGE) had its target price cut by stock analysts at Canaccord Genuity Group from $10.00 to $9.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target suggests a potential upside of 286.27% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Roth Capital restated a “buy” rating on shares of Niagen Bioscience in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Niagen Bioscience in a research report on Thursday, October 15th. Finally, Freedom Capital raised Niagen Bioscience to a “strong-buy” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Niagen Bioscience currently has a consensus rating of “Buy” and an average target price of $10.00.

Niagen Bioscience Stock Performance

Shares of NAGE stock opened at $2.33 on Friday. The firm has a market capitalization of $185.57 million, a PE ratio of 12.95 and a beta of 2.02. The firm has a fifty day simple moving average of $2.86 and a two-hundred day simple moving average of $3.93. Niagen Bioscience has a 12 month low of $2.32 and a 12 month high of $7.95.

Niagen Bioscience (NASDAQ:NAGE) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Niagen Bioscience had a net margin of 12.39% and a return on equity of 17.95%. The firm had revenue of $29.78 million for the quarter, compared to the consensus estimate of $29.95 million. On average, equities analysts predict that Niagen Bioscience will post 0.10 earnings per share for the current fiscal year.

Institutional Trading of Niagen Bioscience

A number of hedge funds have recently bought and sold shares of the business. SteelPeak Wealth LLC purchased a new position in Niagen Bioscience in the first quarter worth $14,875,000. Tieton Capital Management LLC bought a new stake in shares of Niagen Bioscience during the 2nd quarter worth $6,407,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Niagen Bioscience by 47.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,378,437 shares of the company’s stock worth $10,489,000 after purchasing an additional 761,685 shares during the period. Sei Investments Co. raised its stake in shares of Niagen Bioscience by 155.6% during the 1st quarter. Sei Investments Co. now owns 971,574 shares of the company’s stock worth $4,285,000 after purchasing an additional 591,495 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Niagen Bioscience by 45.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,328,843 shares of the company’s stock worth $5,860,000 after buying an additional 414,725 shares during the last quarter. 15.41% of the stock is currently owned by institutional investors.

About Niagen Bioscience

Niagen Bioscience, Inc develops and commercializes science-based products designed to support healthy aging and cellular health. The company focuses on NAD+ biology, including nicotinamide riboside (NR), a form of vitamin B3 that serves as a precursor to NAD+, a coenzyme involved in cellular energy production and other biological processes.

Its principal consumer product is Tru Niagen, an NR-based dietary supplement sold through the company’s direct-to-consumer website and retail and distribution channels.