Oppenheimer Weighs in on Compugen Ltd.’s FY2018 Earnings (CGEN)

Compugen Ltd. (NASDAQ:CGEN) – Stock analysts at Oppenheimer cut their FY2018 earnings estimates for shares of Compugen in a report released on Wednesday, November 7th, Zacks Investment Research reports. Oppenheimer analyst M. Breidenbach now forecasts that the biotechnology company will post earnings of ($0.43) per share for the year, down from their previous forecast of ($0.41). Oppenheimer currently has a “Buy” rating and a $9.00 target price on the stock. Oppenheimer also issued estimates for Compugen’s Q3 2019 earnings at ($0.17) EPS, Q4 2019 earnings at ($0.16) EPS, FY2019 earnings at ($0.68) EPS, FY2020 earnings at ($0.66) EPS, FY2021 earnings at ($0.72) EPS and FY2022 earnings at ($0.73) EPS.

Separately, Zacks Investment Research upgraded shares of Compugen from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a report on Tuesday, October 16th.

Compugen stock traded down $0.10 during mid-day trading on Monday, hitting $3.42. 220,026 shares of the company’s stock were exchanged, compared to its average volume of 123,572. The company has a market capitalization of $177.47 million, a price-to-earnings ratio of -4.75 and a beta of 1.33. Compugen has a 1-year low of $2.30 and a 1-year high of $5.00.

Compugen (NASDAQ:CGEN) last posted its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.05) 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 analyst estimates of $7.80 million.

A number of hedge funds have recently added to or reduced their stakes in CGEN. Commonwealth Equity Services LLC bought a new stake in Compugen during the second quarter valued at about $106,000. Jane Street Group LLC bought a new stake in Compugen during the third quarter valued at about $128,000. Aviance Capital Management LLC bought a new stake in Compugen during the third quarter valued at about $151,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Compugen by 34.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 167,600 shares of the biotechnology company’s stock valued at $553,000 after buying an additional 42,900 shares during the period. Finally, 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 buying an additional 20,200 shares during the period. Institutional investors own 21.68% of the company’s stock.

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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Earnings History and Estimates for Compugen (NASDAQ:CGEN)

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