Zacks Investment Research upgraded shares of Generation Bio (NASDAQ:GBIO – Get Rating) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $8.75 price target on the stock.
According to Zacks, “Generation Bio Co. is a genetic medicines company. It is focused on creating gene therapy for patients suffering from both rare and prevalent diseases. Generation Bio Co. is based in CAMBRIDGE, Mass. “
Separately, Needham & Company LLC reiterated a buy rating and issued a $27.00 price target on shares of Generation Bio in a research note on Tuesday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $15.25.
Generation Bio (NASDAQ:GBIO – Get Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported ($0.54) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.57) by $0.03. As a group, sell-side analysts expect that Generation Bio will post -2.34 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of GBIO. Manchester Capital Management LLC bought a new position in Generation Bio in the third quarter worth about $25,000. Virginia Retirement Systems ET AL bought a new position in Generation Bio in the first quarter worth about $84,000. GSA Capital Partners LLP bought a new stake in shares of Generation Bio during the fourth quarter valued at approximately $126,000. Royal Bank of Canada boosted its position in shares of Generation Bio by 30.2% during the third quarter. Royal Bank of Canada now owns 5,698 shares of the company’s stock worth $143,000 after buying an additional 1,322 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Generation Bio by 2,831.9% in the 4th quarter. Wells Fargo & Company MN now owns 20,113 shares of the company’s stock worth $143,000 after buying an additional 19,427 shares in the last quarter. 82.42% of the stock is currently owned by hedge funds and other institutional investors.
Generation Bio Company Profile (Get Rating)
Generation Bio Co, a genetic medicines company, develops therapies for the treatment of rare and prevalent diseases. The company provides a portfolio of programs, including programs for rare and prevalent diseases of the liver and retina. It also focuses on the diseases of skeletal muscle, central nervous system, and oncology.
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