Wall Street Zen Downgrades Niagen Bioscience (NASDAQ:NAGE) to Buy

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

A number of other research firms have also weighed in on NAGE. 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. HC Wainwright boosted 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. Finally, Canaccord Genuity Group boosted 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. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $13.42.

Niagen Bioscience Trading Up 2.3%

NASDAQ NAGE opened at $9.60 on Tuesday. The company has a market cap of $765.60 million, a PE ratio of 45.72 and a beta of 2.21. Niagen Bioscience has a 12 month low of $3.16 and a 12 month high of $14.69. The stock has a 50 day moving average of $10.14 and a 200-day moving average of $8.98.

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

Institutional Investors Weigh In On Niagen Bioscience

A number of hedge funds and other institutional investors have recently modified their holdings of the company. D. E. Shaw & Co. Inc. lifted its holdings in shares of Niagen Bioscience by 1,785.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,011,290 shares of the company’s stock worth $5,365,000 after buying an additional 957,665 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Niagen Bioscience by 13.8% during the fourth quarter. Northern Trust Corp now owns 429,873 shares of the company’s stock worth $2,280,000 after buying an additional 52,170 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Niagen Bioscience by 212.5% during the fourth quarter. Ameriprise Financial Inc. now owns 329,988 shares of the company’s stock worth $1,751,000 after buying an additional 224,399 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Niagen Bioscience during the fourth quarter worth $1,647,000. Finally, Millennium Management LLC acquired a new stake in shares of Niagen Bioscience during the fourth quarter worth $1,199,000. Institutional investors and hedge funds own 15.41% of the company’s stock.

Niagen Bioscience Company Profile

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.