Zacks Investment Research Lowers Compugen (CGEN) to Hold

Zacks Investment Research lowered shares of Compugen (NASDAQ:CGEN) from a strong-buy rating to a hold rating in a report released on Tuesday.

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. “

Several other analysts also recently weighed in on the stock. ValuEngine raised shares of Compugen from a sell rating to a hold rating in a report on Wednesday, January 2nd. Oppenheimer set a $9.00 target price on shares of Compugen and gave the company a buy rating in a report on Wednesday, November 7th.

Compugen stock traded down $0.08 during midday trading on Tuesday, hitting $2.94. 2,035 shares of the company’s stock were exchanged, compared to its average volume of 197,189. Compugen has a 12-month low of $2.00 and a 12-month high of $5.00. The company has a market capitalization of $142.60 million, a P/E ratio of -4.11 and a beta of 1.77.

Compugen (NASDAQ:CGEN) last issued its quarterly earnings data on Wednesday, November 7th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.07. The business had revenue of $7.80 million for the quarter, compared to analysts’ expectations of $7.80 million. As a group, sell-side analysts anticipate that Compugen will post -0.44 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Cornerstone Investment Partners LLC purchased a new stake in shares of Compugen in the fourth quarter valued at about $38,000. Morgan Stanley lifted its stake in shares of Compugen by 2.8% in the third quarter. Morgan Stanley now owns 998,173 shares of the biotechnology company’s stock valued at $3,843,000 after purchasing an additional 27,240 shares during the period. Jane Street Group LLC acquired a new stake in shares of Compugen in the third quarter valued at about $128,000. Renaissance Technologies LLC lifted its stake in shares of Compugen by 8.2% in the third quarter. Renaissance Technologies LLC now owns 265,100 shares of the biotechnology company’s stock valued at $1,021,000 after purchasing an additional 20,200 shares during the period. Finally, ARK Investment Management LLC lifted its stake in shares of Compugen by 28.5% in the third quarter. ARK Investment Management LLC now owns 6,904,667 shares of the biotechnology company’s stock valued at $26,583,000 after purchasing an additional 1,531,793 shares during the period. 21.68% of the stock is currently owned by institutional investors and hedge funds.

Compugen Company Profile

Compugen Ltd., a therapeutic discovery company, engages in the research, development, and commercialization of therapeutic and product candidates in Israel and Europe. The company's therapeutic pipeline consists of immuno-oncology programs against novel drug targets in the areas of unmet medical needs in various cancer types and patient populations.

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