Evogene (NASDAQ:EVGN) Announces Quarterly Earnings Results

Evogene (NASDAQ:EVGN) released its quarterly earnings data on Wednesday. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.09, MarketWatch Earnings reports. Evogene had a negative net margin of 354.35% and a negative return on equity of 64.44%. The company had revenue of $3.77 million for the quarter, compared to analysts’ expectations of $1.09 million. During the same quarter in the prior year, the firm earned ($0.16) EPS.

Evogene Stock Down 0.9 %

EVGN traded down $0.01 during trading on Friday, reaching $0.66. 53,729 shares of the company were exchanged, compared to its average volume of 172,521. The company has a market cap of $27.20 million, a price-to-earnings ratio of -1.37 and a beta of 1.38. Evogene has a 12-month low of $0.45 and a 12-month high of $1.44. The company’s 50-day moving average is $0.58 and its two-hundred day moving average is $0.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SNC raised its stake in shares of Evogene by 265.4% during the second quarter. BNP Paribas Arbitrage SNC now owns 26,700 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 19,393 shares in the last quarter. Virtu Financial LLC purchased a new position in Evogene in the 1st quarter worth $48,000. Vident Investment Advisory LLC lifted its stake in Evogene by 68.5% in the first quarter. Vident Investment Advisory LLC now owns 83,868 shares of the biotechnology company’s stock worth $109,000 after purchasing an additional 34,082 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Evogene by 31.8% during the first quarter. Renaissance Technologies LLC now owns 118,193 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 28,493 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Evogene by 49.7% in the first quarter. Bank of America Corp DE now owns 204,521 shares of the biotechnology company’s stock worth $265,000 after purchasing an additional 67,867 shares in the last quarter. 1.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EVGN shares. Roth Mkm raised their price target on shares of Evogene from $1.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, July 21st. StockNews.com upgraded shares of Evogene to a “sell” rating in a report on Thursday, October 26th. Alliance Global Partners started coverage on shares of Evogene in a research note on Monday, October 2nd. They issued a “buy” rating and a $1.85 price objective for the company. Finally, Lake Street Capital lifted their target price on shares of Evogene from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Friday, August 18th.

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.