Compugen (NASDAQ:CGEN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Compugen (NASDAQ:CGEN) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. They currently have $6.25 price objective on the biotechnology company’s stock.

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. “

A number of other equities analysts have also recently issued reports on CGEN. ValuEngine upgraded shares of Compugen from a sell rating to a hold rating in a research report on Tuesday, November 5th. BidaskClub upgraded shares of Compugen from a buy rating to a strong-buy rating in a research report on Sunday, November 3rd.

Compugen stock traded down $0.13 during mid-day trading on Thursday, hitting $5.51. The company’s stock had a trading volume of 1,677 shares, compared to its average volume of 274,159. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.19 and a quick ratio of 5.38. The stock has a market cap of $284.68 million, a price-to-earnings ratio of -13.37 and a beta of 2.67. The business has a 50 day moving average price of $4.54 and a 200-day moving average price of $3.83. Compugen has a 12 month low of $2.00 and a 12 month high of $6.22.

Compugen (NASDAQ:CGEN) last posted its quarterly earnings results on Monday, November 11th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. On average, equities research analysts expect that Compugen will post -0.44 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Nikko Asset Management Americas Inc. increased its position in shares of Compugen by 84.0% in the second quarter. Nikko Asset Management Americas Inc. now owns 1,631,037 shares of the biotechnology company’s stock valued at $6,263,000 after acquiring an additional 744,447 shares during the period. Morgan Stanley increased its position in shares of Compugen by 2.1% in the second quarter. Morgan Stanley now owns 1,035,175 shares of the biotechnology company’s stock valued at $3,975,000 after acquiring an additional 21,368 shares during the period. ETF Managers Group LLC purchased a new position in shares of Compugen in the second quarter valued at about $424,000. ARK Investment Management LLC increased its position in shares of Compugen by 3.2% during the second quarter. ARK Investment Management LLC now owns 8,496,641 shares of the biotechnology company’s stock valued at $32,627,000 after buying an additional 267,086 shares during the period. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Compugen during the second quarter valued at about $45,000. Hedge funds and other institutional investors own 42.28% of the company’s stock.

About Compugen

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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