Zacks Investment Research Upgrades Intrexon Corp. (XON) to “Hold”
Intrexon Corp. (NYSE:XON) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Intrexon is a leader in the synthetic biology field, with its focus on the broad delivery of bioindustrial engineering to design and create solutions across five key sectors – health, food, energy, environment and consumer. We believe that the company’s core area – synthetic biology – holds huge potential. Intrexon’s expanding portfolio of technologies has enabled the company to develop a robust pipeline of candidates targeting a broad range of diseases including cancer and others. We are positive on the company’s efforts to expand through acquisitions, exclusive channel collaborations (ECCs) and joint ventures (JV). Estimates are mostly stable ahead of Q3 results. However, Intrexon depends largely on ECCs and license and collaboration agreements for revenues. Any unfavorable outcome from any of the development programs could become a major setback for the company and dent its operating results and prospects.”
Several other research analysts have also recently weighed in on XON. Stifel Nicolaus restated a “buy” rating and set a $57.00 price target on shares of Intrexon Corp. in a report on Wednesday, June 29th. Wunderlich reiterated a “buy” rating and issued a $50.00 target price on shares of Intrexon Corp. in a research note on Thursday, July 7th. JMP Securities reiterated a “buy” rating on shares of Intrexon Corp. in a research note on Sunday, July 17th. Vetr cut shares of Intrexon Corp. from a “strong-buy” rating to a “sell” rating and set a $22.26 target price on the stock. in a research note on Wednesday, July 20th. Finally, Griffin Securities reiterated a “buy” rating and issued a $55.00 target price on shares of Intrexon Corp. in a research note on Tuesday, August 16th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.71.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/17/zacks-investment-research-upgrades-intrexon-corp-xon-to-hold.html
Intrexon Corp. (NYSE:XON) traded down 0.82% during trading on Monday, hitting $26.46. The stock had a trading volume of 508,268 shares. Intrexon Corp. has a 12-month low of $18.52 and a 12-month high of $43.76. The stock has a 50 day moving average price of $27.37 and a 200 day moving average price of $27.86. The company’s market capitalization is $3.13 billion.
Intrexon Corp. (NYSE:XON) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.26) by $0.16. Intrexon Corp. had a negative return on equity of 19.00% and a negative net margin of 96.65%. The firm had revenue of $52.50 million for the quarter, compared to analysts’ expectations of $53.78 million. During the same quarter last year, the firm posted ($0.37) earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities research analysts forecast that Intrexon Corp. will post ($1.36) earnings per share for the current year.
In other news, SVP Nir Nimrodi bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average price of $26.12 per share, with a total value of $104,480.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 55.10% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Iridian Asset Management LLC CT raised its position in shares of Intrexon Corp. by 5.4% in the second quarter. Iridian Asset Management LLC CT now owns 4,061,478 shares of the company’s stock worth $99,953,000 after buying an additional 206,763 shares during the last quarter. Vanguard Group Inc. raised its position in Intrexon Corp. by 2.8% in the second quarter. Vanguard Group Inc. now owns 3,768,107 shares of the company’s stock valued at $92,732,000 after buying an additional 101,083 shares in the last quarter. State Street Corp raised its position in Intrexon Corp. by 60.4% in the second quarter. State Street Corp now owns 2,501,773 shares of the company’s stock valued at $61,567,000 after buying an additional 941,882 shares in the last quarter. AQR Capital Management LLC raised its position in Intrexon Corp. by 208.1% in the second quarter. AQR Capital Management LLC now owns 1,391,208 shares of the company’s stock valued at $34,237,000 after buying an additional 939,597 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Intrexon Corp. by 7.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,289,979 shares of the company’s stock valued at $31,746,000 after buying an additional 94,354 shares in the last quarter. 84.10% of the stock is currently owned by hedge funds and other institutional investors.
Intrexon Corp. Company Profile
Intrexon Corporation (Intrexon) forms collaborations to create biologically based products and processes using synthetic biology. The Company designs, builds and regulates gene programs, which are deoxyribonucleic acid (DNA) sequences that consist of genetic components. The Company’s synthetic biology capabilities include the ability to control the amount, location and modification of biological molecules to control the function and output of living cells and optimize for desired results at an industrial scale.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intrexon Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intrexon Corp. and related companies with MarketBeat.com's FREE daily email newsletter.