NervGen Pharma (NASDAQ:NGEN) Stock Now Rated “Moderate Buy” by Wall Street Analysts

by · The Markets Daily

Shares of NervGen Pharma (NASDAQ:NGEN – Get Free Report) have been given an average rating of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $14.00.

Several equities analysts have issued reports on NGEN shares. TD Cowen assumed coverage on shares of NervGen Pharma in a research note on Thursday, June 11th. They issued a “buy” rating for the company. 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 downgraded NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen cut NervGen Pharma from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 15th.

Get Our Latest Stock Analysis on NervGen Pharma

NervGen Pharma Stock Down 4.0%

Shares of NASDAQ:NGEN opened at $1.94 on Friday. The business’s 50 day moving average is $1.93. NervGen Pharma has a twelve month low of $1.58 and a twelve month high of $6.30. The stock has a market cap of $156.42 million and a P/E ratio of -4.22.

NervGen Pharma (NASDAQ:NGEN – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). As a group, equities research analysts expect that NervGen Pharma will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On NervGen Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AXQ Capital LP acquired a new stake in shares of NervGen Pharma in the second quarter valued at approximately $89,000. Stonepine Capital Management LLC acquired a new position in shares of NervGen Pharma in the 2nd quarter valued at $559,657. Finally, Empery Asset Management LP acquired a new position in shares of NervGen Pharma in the 2nd quarter valued at $8,240,000.

About NervGen Pharma

(Get Free Report)

NervGen Pharma Corp. is a clinical-stage biotechnology company headquartered in Vancouver, British Columbia, focused on developing treatments that promote repair and recovery following damage to the nervous system. The company’s research is based on technology involving protein tyrosine phosphatase sigma, a receptor associated with the inhibition of nerve regeneration.

NervGen’s lead product candidate is NVG-291, an investigational peptide designed to support neural repair, axonal regeneration and functional recovery.

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