Niagen Bioscience (NASDAQ:NAGE) Trading 4.2% Higher – Still a Buy?

Niagen Bioscience, Inc. (NASDAQ:NAGE) rose 4.2% during mid-day trading on Tuesday . The company traded as high as $3.53 and last traded at $3.51. Approximately 784,621 shares changed hands during trading, a decline of 13% from the average daily volume of 905,632 shares. The stock had previously closed at $3.37.

Wall Street Analysts Forecast Growth

NAGE has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Niagen Bioscience from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Niagen Bioscience in a report on Tuesday, April 21st. Canaccord Genuity Group dropped their target price on shares of Niagen Bioscience from $13.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Finally, HC Wainwright dropped their target price on shares of Niagen Bioscience from $12.00 to $11.00 and set a “buy” rating for the company in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.50.

Niagen Bioscience Stock Performance

The company has a market cap of $279.54 million, a PE ratio of 16.71 and a beta of 2.08. The company’s 50-day simple moving average is $4.22 and its 200 day simple moving average is $5.26.

Niagen Bioscience (NASDAQ:NAGE) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $31.47 million during the quarter. Niagen Bioscience had a net margin of 14.29% and a return on equity of 22.68%. Analysts forecast that Niagen Bioscience, Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Niagen Bioscience

Several institutional investors have recently modified their holdings of NAGE. Wealth Enhancement Advisory Services LLC purchased a new stake in Niagen Bioscience in the third quarter valued at $126,000. Arizona State Retirement System purchased a new position in shares of Niagen Bioscience during the third quarter worth about $152,000. AlphaQuest LLC acquired a new stake in shares of Niagen Bioscience during the third quarter worth about $75,000. Principal Financial Group Inc. acquired a new stake in shares of Niagen Bioscience during the third quarter worth about $751,000. Finally, Alps Advisors Inc. acquired a new stake in shares of Niagen Bioscience during the third quarter worth about $443,000. 15.41% of the stock is owned by hedge funds and other institutional investors.

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.