NervGen Pharma (NGEN) – What Are Researchers Thinking About This Stock?

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

A number of research firms have recently issued reports on NGEN. Wall Street Zen cut NervGen Pharma from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings lowered NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 4th. Finally, Leerink Partners started coverage on NervGen Pharma in a report on Monday, July 13th. They set an “outperform” rating and a $10.00 price objective on the stock.

Institutional Trading of NervGen Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AXQ Capital LP bought a new position in NervGen Pharma during the second quarter valued at approximately $89,000. Stonepine Capital Management LLC purchased a new position in shares of NervGen Pharma during the second quarter worth approximately $559,657. Finally, Empery Asset Management LP bought a new stake in shares of NervGen Pharma in the 2nd quarter worth approximately $8,240,000.

NervGen Pharma Price Performance

Shares of NASDAQ:NGEN opened at $1.54 on Wednesday. NervGen Pharma has a 52-week low of $1.52 and a 52-week high of $6.30. The stock has a fifty day moving average of $1.95.

NervGen Pharma (NASDAQ:NGEN) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). Sell-side analysts predict that NervGen Pharma will post -0.55 EPS for the current year.

About NervGen Pharma

NervGen Pharma Corp. is a clinical-stage biotechnology company focused on developing therapies that promote repair and recovery in the nervous system. The company’s research is based on the potential to enhance the body’s natural ability to regenerate damaged nerve tissue and restore lost neurological function.

NervGen’s lead product candidate, NVG-291, is an investigational peptide designed to stimulate nervous-system repair after injury. The company has been evaluating NVG-291 in clinical development for conditions including spinal cord injury, with additional potential applications in neurological disorders such as multiple sclerosis and peripheral nerve damage.

Headquartered in Vancouver, British Columbia, NervGen serves the global biotechnology and healthcare markets through its research and clinical-development programs.