Oppenheimer Begins Coverage on Compugen (NASDAQ:CGEN)

Oppenheimer initiated coverage on shares of Compugen (NASDAQ:CGEN) in a research report released on Thursday morning, TipRanks reports. The firm issued a buy rating and a $19.00 price objective on the biotechnology company’s stock.

CGEN has been the topic of a number of other research reports. BidaskClub lowered shares of Compugen from a hold rating to a sell rating in a research report on Tuesday, July 28th. SunTrust Banks raised their price objective on Compugen from $16.00 to $22.00 and gave the company a buy rating in a report on Tuesday, April 28th. Roth Capital initiated coverage on Compugen in a report on Wednesday, April 22nd. They issued a buy rating and a $28.00 target price for the company. JMP Securities began coverage on Compugen in a research report on Tuesday, May 26th. They issued an outperform rating and a $18.00 target price for the company. Finally, ValuEngine cut Compugen from a buy rating to a hold rating in a report on Thursday, July 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Compugen presently has a consensus rating of Buy and an average price target of $18.75.

Shares of CGEN opened at $14.41 on Thursday. Compugen has a 52-week low of $2.96 and a 52-week high of $17.85. The firm has a market cap of $985.93 million, a price-to-earnings ratio of -37.92 and a beta of 2.84. The business’s fifty day moving average is $15.10 and its 200-day moving average is $11.53.

Compugen (NASDAQ:CGEN) last issued its earnings results on Thursday, July 30th. The biotechnology company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. On average, equities analysts expect that Compugen will post -0.42 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its holdings in Compugen by 700.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 4,000 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 3,500 shares during the last quarter. Citigroup Inc. raised its stake in Compugen by 688.7% during the fourth quarter. Citigroup Inc. now owns 5,521 shares of the biotechnology company’s stock worth $33,000 after buying an additional 4,821 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Compugen in the first quarter valued at $80,000. Philadelphia Trust Co. bought a new stake in Compugen during the first quarter valued at $109,000. Finally, Cornerstone Investment Partners LLC grew its holdings in Compugen by 4.9% during the 1st quarter. Cornerstone Investment Partners LLC now owns 18,360 shares of the biotechnology company’s stock worth $133,000 after acquiring an additional 860 shares during the period. Institutional investors and hedge funds own 46.56% 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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