Canaccord Genuity Group Reaffirms “Buy” Rating for Niagen Bioscience (NASDAQ:NAGE)

Niagen Bioscience (NASDAQ:NAGE)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity Group in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $13.00 target price on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 187.61% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Niagen Bioscience in a report on Thursday, January 22nd. Wall Street Zen raised Niagen Bioscience from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Niagen Bioscience Stock Up 2.5%

Shares of NAGE stock opened at $4.52 on Tuesday. Niagen Bioscience has a fifty-two week low of $4.16 and a fifty-two week high of $14.69. The business has a fifty day simple moving average of $5.12 and a 200-day simple moving average of $6.49. The stock has a market cap of $361.96 million, a P/E ratio of 22.60 and a beta of 2.23.

Hedge Funds Weigh In On Niagen Bioscience

Institutional investors have recently modified their holdings of the company. Precision Wealth Strategies LLC purchased a new stake in Niagen Bioscience in the 3rd quarter worth approximately $1,527,000. Hillsdale Investment Management Inc. purchased a new position in shares of Niagen Bioscience during the 3rd quarter worth $2,988,000. Navellier & Associates Inc. purchased a new position in shares of Niagen Bioscience during the 3rd quarter worth $1,768,000. BSW Wealth Partners acquired a new stake in shares of Niagen Bioscience during the third quarter worth $793,000. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of Niagen Bioscience in the third quarter valued at $1,170,000. 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. It operates through the following segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services.