StockNews.com Initiates Coverage on Evogene (NASDAQ:EVGN)

Equities research analysts at StockNews.com began coverage on shares of Evogene (NASDAQ:EVGN) in a research report issued on Monday. The firm set a “sell” rating on the biotechnology company’s stock.

Separately, Lake Street Capital dropped their price target on shares of Evogene from $30.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd.

Evogene Stock Performance

Shares of NASDAQ EVGN opened at $2.70 on Monday. The company has a 50 day simple moving average of $4.01 and a two-hundred day simple moving average of $6.03. Evogene has a fifty-two week low of $2.61 and a fifty-two week high of $10.40. The company has a market capitalization of $111.28 million, a price-to-earnings ratio of -5.87 and a beta of 1.40.

Evogene (NASDAQ:EVGN) last announced its quarterly earnings data on Thursday, August 22nd. The biotechnology company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.94). Evogene had a negative net margin of 210.26% and a negative return on equity of 72.33%. The company had revenue of $0.91 million for the quarter.

Hedge Funds Weigh In On Evogene

A hedge fund recently raised its stake in Evogene stock. BNP Paribas Financial Markets boosted its holdings in Evogene Ltd. (NASDAQ:EVGN) by 30.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,400 shares of the biotechnology company’s stock after buying an additional 21,500 shares during the quarter. BNP Paribas Financial Markets owned 0.22% of Evogene worth $69,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 10.40% of the company’s stock.

About Evogene

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The company operates through three segments: Agriculture, Human Health, and Industrial Applications.