Zacks Investment Research Upgrades Compugen (CGEN) to “Buy”

Compugen (NASDAQ:CGEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $3.75 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 25.00% from the stock’s previous close.

According to Zacks, “Compugen Ltd. is a pioneer in the fields of computational genomics and proteomics. The company combines the disciplines of mathematics and computer science with molecular biology to improve the understanding of genomics and proteomics, the study of genes and proteins. Compugen’s expertise in these areas is used to develop core technologies and platforms that are the basis for its products and services. These products and services are designed to enable life scientists to significantly enhance their research efforts in drug discovery. “

Separately, ValuEngine downgraded shares of Compugen from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st.

Compugen (NASDAQ CGEN) traded down $0.25 on Friday, hitting $3.00. 330,402 shares of the company were exchanged, compared to its average volume of 196,815. The stock has a market capitalization of $130.67, a P/E ratio of -4.23 and a beta of 0.57. Compugen has a one year low of $2.25 and a one year high of $5.40.

Compugen (NASDAQ:CGEN) last posted its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.19). analysts forecast that Compugen will post -0.73 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in Compugen by 15.6% during the fourth quarter. Renaissance Technologies LLC now owns 534,900 shares of the biotechnology company’s stock valued at $2,728,000 after purchasing an additional 72,075 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Compugen by 522.2% during the first quarter. Tower Research Capital LLC TRC now owns 23,576 shares of the biotechnology company’s stock valued at $101,000 after purchasing an additional 19,787 shares in the last quarter. Stockman Asset Management purchased a new position in Compugen during the third quarter valued at approximately $597,000. Morgan Stanley lifted its holdings in Compugen by 3.3% during the fourth quarter. Morgan Stanley now owns 700,119 shares of the biotechnology company’s stock valued at $4,474,000 after purchasing an additional 22,092 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Compugen by 20.9% during the first quarter. Geode Capital Management LLC now owns 22,873 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 3,959 shares in the last quarter. 17.43% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Upgrades Compugen (CGEN) to “Buy”” was posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/01/19/zacks-investment-research-upgrades-compugen-cgen-to-buy.html.

About Compugen

Compugen Ltd. is a therapeutic discovery company. The Company focuses on infrastructure to discover drug targets and develop therapeutics. The Company is engaged in the research, development and commercialization of therapeutic and product candidates. The Company’s pipeline primarily consists of early and preclinical stage immuno-oncology programs based on drug targets discovered by the Company, primarily immune checkpoint and myeloid protein target candidates.

Get a free copy of the Zacks research report on Compugen (CGEN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Compugen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Compugen and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply