Niagen Bioscience (NAGE) AI Stock Analysis

• Market Cap: $379.58M
• Dividend Yield: N/A
• Average Volume (3M): 1.55M
• Price to Earnings (P/E): 29.0
• Beta (1Y): 1.02
• Revenue Growth: 36.04%
• EPS Growth: 1240.00%
• Country: US
• Employees: 104
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.05
• Shares Outstanding: 80,080,490
• 10 Day Avg. Volume: 2,825,943
• 30 Day Avg. Volume: 1,554,715
• PEG Ratio: 0.24
• Price to Book (P/B): 6.58
• Price to Sales (P/S): 3.89
• P/FCF Ratio: 38.31
• Enterprise Value/Market Cap: 0.84
• Enterprise Value/Revenue: 2.45
• Enterprise Value/Gross Profit: 3.82
• Enterprise Value/Ebitda: 19.08
• 1Y Price Target: $12.67
• Price Target Upside: 167.30% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 0.29
• Revenue Forecast (FY): $152.87M

• Rating: 68 Neutral
• Price Target: $5.00 ▲(5.49% Upside)
• Action: Reiterated Date: 03/20/26
• Date: Action: Reiterated 03/20/26

The score is driven primarily by improved fundamentals (profitability turnaround and a very low-leverage balance sheet) and a generally constructive earnings-call outlook despite slower 2026 growth guidance and higher planned spending. Offsetting these strengths are weak technicals (price below key moving averages with negative MACD) and a relatively high P/E with no dividend support.

Positive Factors

Conservative balance sheet & cash liquidity

Very low leverage and a large cash reserve create durable financial optionality. The cash/no-debt position supports sustained R&D, channel expansion, clinical programs, and the buyback authorization while absorbing litigation or working-capital swings without forcing dilutive financing.

Sustained revenue growth and margin improvement

Multi-year top-line expansion and a move from losses to consistent profitability reflect durable commercial traction. Strong gross margins and rising EBITDA indicate scalable unit economics that can sustain investments in marketing, R&D and new channels over the medium term.

Consolidated IP & focused strategic posture

Owning foundational patents strengthens competitive moat and licensing optionality, supporting higher-margin B2B deals and pharma partnerships. Clear IP control reduces fragmentation risk, enabling longer-term monetization across supplements, injectables and potential therapeutics.

Negative Factors

Slower revenue guidance for 2026

Management's materially lower growth guidance implies slower near-term demand or tougher comps, which elongates payback on current marketing and R&D investments. Back‑loaded pacing raises execution risk if new channels and clinic rollouts don't scale as planned.

Cash-flow volatility and weaker conversion

Weaker year‑over‑year cash conversion and a sharp FCF decline signal working‑capital or investment timing risks. Persistent variability could erode the durability of self‑funding for clinical/pharma programs and make the company more sensitive to inventory cycles or B2B payment timing.

Regulatory and competitive uncertainty (NMN / FDA litigation)

Ongoing litigation and category regulatory shifts create multi‑quarter uncertainty over market structure and B2B customer behavior. Competitor claims and regulatory noise can depress category growth, complicate marketing, and slow partner adoption of NIAGEN, weighing on durable top‑line expansion.

Niagen Bioscience Business Overview & Revenue Model

Company Description

Niagen Bioscience Inc is a bioscience company dedicated to healthy aging. The Company leads research on nicotinamide adenine dinucleotide.

How the Company Makes Money

Niagen Bioscience primarily makes money through (1) direct-to-consumer and retail sales of finished dietary supplement products that feature its NR ingredient (typically sold online and through retail/distribution channels) and (2) business-to-business (B2B) sales of its branded ingredient NIAGEN® to other supplement/consumer health companies that incorporate it into their own finished products under licensing and/or supply arrangements. Revenue is therefore driven by consumer demand for NAD+ support supplements and by the breadth of third-party brand adoption of NIAGEN® as an ingredient. Additional revenue may come from collaborations, licensing arrangements, or other commercialization of its intellectual property related to NR/NAD+; specific amounts or material terms are null.

Niagen Bioscience Financial Statement Overview

Summary

Strong multi-year turnaround with consistent revenue expansion (2020–2025) and a shift to solid profitability in 2024–2025 supported by improved gross and operating margins. Balance sheet is very conservative with minimal leverage and rising equity. Main weakness is cash-flow volatility (notably lower 2025 free cash flow despite higher earnings) alongside slowing 2025 revenue growth.

Income Statement

Revenue has expanded consistently from 2020 to 2025 (from $59.3M to $129.4M), showing strong top-line momentum. Profitability has improved materially: the company moved from sizable losses in 2020–2022 to positive earnings in 2024–2025, with 2025 net margin at ~13.4% and operating margin at ~11.0%. Gross margin has also strengthened to ~64.3% in 2025, supporting the earnings turnaround. The main weakness is decelerating growth in 2025 (revenue growth ~3.8% vs. higher growth in prior years), which could signal maturing demand or tougher comps.

Balance Sheet

The balance sheet looks conservative with very low leverage: 2025 debt-to-equity is ~0.04, and total debt is only ~$2.8M against ~$76.5M of equity. Equity has grown significantly versus earlier years (e.g., ~$16.4M in 2020 to ~$76.5M in 2025), reflecting improved retained earnings and/or capitalization. Profitability on equity is strong in the latest period (2025 return on equity ~22.7%), following negative returns during the loss years. A key watch item is that assets increased sharply alongside equity; while not a problem by itself, it raises the importance of sustaining profitability so the larger asset base remains productive.

Cash Flow

Cash generation has improved meaningfully versus 2020–2022, with positive operating cash flow in 2023–2025 and positive free cash flow in 2023–2025. In 2025, free cash flow of ~$13.1M is roughly in line with net income (free cash flow to net income ~0.98), which is a healthy earnings-quality signal. However, free cash flow fell sharply in 2025 (growth ~-37.8%) despite higher net income, indicating weaker year-over-year cash conversion and potentially higher working-capital needs or investment intensity. Operating cash flow relative to net income is also below 1 in recent years (~0.67 in 2024–2025), reinforcing that cash conversion is good but not consistently strong.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	129.42M	99.60M	83.57M	72.05M	67.45M
Gross Profit	83.19M	61.59M	50.78M	42.80M	41.49M
EBITDA	15.75M	9.21M	-3.89M	-16.74M	-25.45M
Net Income	17.38M	8.55M	-4.94M	-16.54M	-27.13M
Balance Sheet
Total Assets	106.41M	68.28M	54.96M	54.06M	57.84M
Cash, Cash Equivalents and Short-Term Investments	64.79M	44.51M	27.17M	20.29M	28.02M
Total Debt	2.82M	2.65M	3.28M	4.26M	4.70M
Total Liabilities	29.87M	22.18M	26.51M	25.39M	26.11M
Stockholders Equity	76.53M	46.09M	28.46M	28.67M	31.73M
Cash Flow
Free Cash Flow	13.14M	11.95M	6.97M	-15.43M	-24.57M
Operating Cash Flow	13.44M	12.11M	7.12M	-15.10M	-24.16M
Investing Cash Flow	-292.00K	-143.00K	-143.00K	-334.00K	-409.00K
Financing Cash Flow	6.98M	5.37M	-90.00K	7.65M	36.09M

Niagen Bioscience Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.74
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NAGE, the sentiment is Negative. The current price of 4.74 is below the 20-day moving average (MA) of 4.97, below the 50-day MA of 5.52, and below the 200-day MA of 8.24, indicating a bearish trend. The MACD of -0.21 indicates Positive momentum. The RSI at 31.27 is Neutral, neither overbought nor oversold. The STOCH value of 24.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NAGE.

Niagen Bioscience Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NAGE	68 Neutral	$379.58M	28.97	26.06%	―	36.04%	1240.00%
VIR	63 Neutral	$1.50B	-1.91	-49.31%	―	-78.55%	7.74%
IOVA	62 Neutral	$1.59B	-2.50	-54.54%	―	175.62%	19.63%
SEPN	59 Neutral	$1.09B	-28.73	-14.83%	―	2147.20%	-269.99%
KURA	52 Neutral	$744.62M	-3.27	-102.59%	―	―	-5.18%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
FTRE	48 Neutral	$915.36M	-1.60	-102.41%	―	-0.54%	-259.57%

Niagen Bioscience Corporate Events

Niagen Bioscience Doubles Share Repurchase Authorization to $20M

On March 19, 2026, Los Angeles-based Niagen Bioscience, a specialist in NAD+ science and healthy-aging supplements and IV therapies, said its board doubled the size of its share repurchase authorization to $20 million of common stock from the $10 million program approved in 2025. The move follows approximately $2.6 million of stock buybacks completed through March 17, 2026, and signals continued confidence in the company’s long-term strategy and perceived undervaluation.

The expanded program, which runs through October 31, 2027 unless changed by the board, allows Niagen to buy shares on the open market or via privately negotiated transactions, including under a potential trading plan. While the company is not obligated to repurchase a specific amount, the increased capacity provides management with additional flexibility to return capital to shareholders and potentially support the stock in volatile market conditions.

Management highlighted that the enlarged repurchase authorization is intended to take advantage of what it sees as a disconnect between Niagen’s market valuation and the fundamentals of its NAD+-focused business. For investors, the decision underscores the board’s willingness to deploy balance sheet resources toward shareholder returns while maintaining optionality to adapt the pace of buybacks to market, regulatory, and corporate needs.

The most recent analyst rating on (NAGE) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Niagen Bioscience stock, see the NAGE Stock Forecast page.

Niagen Bioscience Reports Strong 2025 Results, Strategic Shift

Niagen Bioscience reported on March 4, 2026 that 2025 net sales rose 30% year over year to $129.4 million, driven by strong Tru Niagen and Niagen ingredient demand, while gross margin improved to 64.3%. Net income more than doubled to $17.4 million, adjusted EBITDA climbed 139% to $20.4 million and the company ended 2025 with $64.8 million in cash and no debt, supporting its 2026 outlook for 10–15% net sales growth excluding the recently divested reference standards segment.

Fourth-quarter 2025 net sales grew 16% to $33.8 million on robust e-commerce performance, although net income fell to $4.1 million due to higher operating expenses and the absence of prior-year one-off benefits. Recent moves—including the February 2026 sale of its analytical reference standards segment, a January 2026 HSA/FSA purchase partnership for Tru Niagen, the December 2025 acquisition of core NR patents, and launches and clinical data in 2025—underscore a strategic pivot toward higher-margin consumer health and IP-driven growth, with implications for stronger brand positioning and expanded monetization opportunities.

The most recent analyst rating on (NAGE) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on Niagen Bioscience stock, see the NAGE Stock Forecast page.

Niagen Bioscience Divests Non-Core Analytical Standards Business

On February 24, 2026, Niagen Bioscience’s subsidiaries ChromaDex, Inc. and ChromaDex Analytics, Inc. completed an all-cash sale of substantially all assets of their analytical reference standards and services business to VHG Labs, part of LGC Group. The transaction included a transition services agreement under which Niagen will provide operational and administrative support to the buyer for up to six months post-closing in exchange for a service fee recognized as services are performed.

The divestiture advances Niagen Bioscience’s previously announced strategy to exit non-core activities and concentrate capital and talent on its NAD+ science platform, intellectual property, and commercial growth in the longevity industry. By shedding the ChromaDex reference standards unit and aligning with LGC’s broader diagnostics and analytical solutions footprint, Niagen aims to simplify its operating structure and sharpen its focus on higher-impact, NAD+-driven revenue opportunities for shareholders.

The most recent analyst rating on (NAGE) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on Niagen Bioscience stock, see the NAGE Stock Forecast page.

Niagen Bioscience Secures Full Ownership of Key NR Patents

On December 16, 2025, Niagen Bioscience’s subsidiary ChromaDex, Inc. entered into an assignment agreement with Queen’s University Belfast that replaced earlier joint ownership and licensing deals and transferred QUB’s entire interest in a core portfolio of NR-related patents to the company. In exchange, Niagen agreed to structured payments including a one-time sum of about $1 million for accrued royalties through 2024, recurring annual payments from 2026 to 2038, and additional lump-sum payments in 2035 and 2038, while QUB provided a broad release from past royalty and other obligations. Announced publicly on December 22, 2025, the transaction makes Niagen the sole owner of foundational composition-of-matter and related patents covering the production, composition, and global commercial use of NR and its salt forms, consolidating what the company describes as the most comprehensive and defensible intellectual property position in the NAD+ industry and giving it greater financial, strategic and operational flexibility in developing, partnering and licensing its NAD+ precursor pipeline, including potential pharmaceutical applications.

The most recent analyst rating on (NAGE) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on Niagen Bioscience stock, see the NAGE Stock Forecast page.