NervGen Pharma (NASDAQ:NGEN) Stock Rating Raised to Sell at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of NervGen Pharma (NASDAQ:NGEN – Free Report) from a strong sell rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

A number of other research firms have also recently commented on NGEN. Leerink Partners began coverage on NervGen Pharma in a research report on Monday, July 13th. They set an “outperform” rating and a $10.00 target price on the stock. Weiss Ratings cut NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NervGen Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Check Out Our Latest Stock Analysis on NGEN

NervGen Pharma Trading Up 0.7%

NGEN opened at $1.43 on Friday. NervGen Pharma has a one year low of $1.38 and a one year high of $6.30. The stock has a market cap of $115.30 million and a P/E ratio of -3.11. The firm has a 50-day simple moving average of $1.93.

NervGen Pharma (NASDAQ:NGEN – Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.28). Analysts forecast that NervGen Pharma will post -0.55 EPS for the current year.

Institutional Trading of NervGen Pharma

Several hedge funds have recently made changes to their positions in NGEN. Empery Asset Management LP acquired a new position in shares of NervGen Pharma during the second quarter worth about $8,240,000. Stonepine Capital Management LLC acquired a new stake in NervGen Pharma in the second quarter valued at about $559,657. Finally, AXQ Capital LP purchased a new stake in NervGen Pharma in the 2nd quarter valued at approximately $89,000.

About NervGen Pharma

(Get Free Report)

NervGen Pharma Corp. is a clinical-stage biotechnology company focused on developing therapies designed to promote nervous system repair and functional recovery after injury or disease. The company is headquartered in Vancouver, British Columbia, and is listed on the Nasdaq Capital Market and the TSX Venture Exchange under the symbol NGEN.

NervGen’s lead product candidate is NVG-291, an investigational peptide intended to enhance the body’s natural capacity for neural repair by modulating the protein tyrosine phosphatase sigma receptor.

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