Compugen (NASDAQ:CGEN) Upgraded to “Buy” at Zacks Investment Research

Compugen (NASDAQ:CGEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, Zacks.com reports. The brokerage presently has a $8.25 target price on the biotechnology company’s stock. Zacks Investment Research‘s target price points to a potential upside of 1.48% from the stock’s previous close.

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. “

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 target price (up previously from $10.00) on shares of Compugen in a research report on Friday, February 21st. ValuEngine raised Compugen from a “hold” rating to a “buy” rating in a research report on Thursday. BidaskClub lowered Compugen from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 17th. Finally, SunTrust Banks began coverage on Compugen in a research report on Tuesday, March 24th. They issued a “buy” rating and a $16.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $12.42.

Shares of NASDAQ:CGEN traded up $0.68 during trading on Monday, hitting $8.13. 636,110 shares of the company’s stock traded hands, compared to its average volume of 826,923. Compugen has a 52 week low of $2.73 and a 52 week high of $12.80. The company has a market cap of $537.10 million, a price-to-earnings ratio of -18.48 and a beta of 2.05. The company has a 50-day moving average price of $8.48 and a 200-day moving average price of $6.36.

Compugen (NASDAQ:CGEN) last released its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Equities analysts forecast that Compugen will post -0.45 EPS for the current year.

Several large investors have recently bought and sold shares of CGEN. Tower Research Capital LLC TRC bought a new position in shares of Compugen during the 4th quarter worth approximately $32,000. Citigroup Inc. boosted its stake in shares of Compugen by 688.7% during the 4th quarter. Citigroup Inc. now owns 5,521 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 4,821 shares during the period. CWS Financial Advisors LLC bought a new position in shares of Compugen during the 4th quarter worth approximately $60,000. ProShare Advisors LLC bought a new position in shares of Compugen during the 4th quarter worth approximately $80,000. Finally, Oxford Asset Management LLP bought a new position in shares of Compugen during the 4th quarter worth approximately $86,000. 33.74% of the stock is currently owned by hedge funds and other institutional investors.

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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