Canaccord Genuity analyst Susan Anderson has maintained their bullish stance on NAGE stock, giving a Buy rating today.
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Susan Anderson’s rating is based on Niagen Bioscience’s impressive financial performance and growth potential. The company reported a significant increase in sales, with a 36.8% year-over-year growth in the second quarter, driven by strong performance in both their Consumer Products and Ingredients segments. The Consumer Products segment, which includes the Tru Niagen supplement, saw a 22% increase, while the Ingredients business experienced a remarkable 139% growth.
Additionally, Niagen Bioscience’s strategic initiatives are contributing to its positive outlook. The company’s efforts to expand its IV offering to over 800 clinics, with a target of reaching 1,000 by year-end, demonstrate strong execution and brand-building. Furthermore, Niagen is investing in innovation and expanding product offerings, with proprietary molecules undergoing clinical trials for rare diseases and pharmaceutical applications. These factors, combined with improved profitability and adjusted EBITDA margins, support Anderson’s Buy rating and the $16 price target.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $10.50 price target.