NervGen Pharma (NASDAQ:NGEN) Posts Earnings Results, Misses Expectations By $0.28 EPS

NervGen Pharma (NASDAQ:NGEN) announced its quarterly earnings results on Thursday. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28), Zacks reports.

NervGen Pharma Price Performance

NervGen Pharma stock remained flat at $1.76 during midday trading on Thursday. 553,002 shares of the company traded hands, compared to its average volume of 472,843. The business’s 50-day simple moving average is $1.84. NervGen Pharma has a one year low of $1.58 and a one year high of $6.30.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NGEN shares. Stifel Nicolaus raised shares of NervGen Pharma to a “strong-buy” rating in a research report on Thursday, April 23rd. Wall Street Zen raised NervGen Pharma from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Zacks Research upgraded NervGen Pharma to a “hold” rating in a research note on Wednesday, April 29th. Leerink Partners initiated coverage on NervGen Pharma in a report on Monday, July 13th. They issued an “outperform” rating and a $10.00 price objective for the company. Finally, HC Wainwright upgraded NervGen Pharma to a “strong-buy” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

NervGen Pharma Company Profile

NervGen Pharma Corp. is a clinical-stage biotechnology company focused on developing therapies to promote nerve repair and restore neurological function following injury or disease. The company advances regenerative approaches intended to address damage in the central and peripheral nervous systems, pursuing programs that aim to translate preclinical repair concepts into human treatments.

The company’s lead investigational candidate is NVG-291, which is being evaluated in clinical studies for indications that include spinal cord injury, neuropathic conditions and neurodegenerative disease settings.