Empery Asset Management LP Invests $8.24 Billion in NervGen Pharma $NGEN

Empery Asset Management LP acquired a new stake in NervGen Pharma (NASDAQ:NGEN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,000,000 shares of the company’s stock, valued at approximately $8,240,000,000. NervGen Pharma accounts for 9.5% of Empery Asset Management LP’s portfolio, making the stock its 3rd biggest holding. Empery Asset Management LP owned 4.96% of NervGen Pharma as of its most recent filing with the Securities & Exchange Commission.

Wall Street Analyst Weigh In

Several research firms have issued reports on NGEN. TD Cowen began coverage on shares of NervGen Pharma in a research report on Thursday, June 11th. They issued a “buy” rating on the stock. HC Wainwright raised shares of NervGen Pharma to a “strong-buy” rating in a research report on Tuesday, April 28th. Zacks Research upgraded shares of NervGen Pharma to a “hold” rating in a research note on Wednesday, April 29th. Weiss Ratings downgraded NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen lowered NervGen Pharma from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 15th. 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

NervGen Pharma Stock Performance

Shares of NGEN stock opened at $1.86 on Friday. The company has a market capitalization of $149.97 million and a PE ratio of -4.04. NervGen Pharma has a one year low of $1.58 and a one year high of $6.30. The business has a fifty day moving average price of $1.83.

NervGen Pharma (NASDAQ:NGEN) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.28). Research analysts anticipate that NervGen Pharma will post -0.4 EPS for the current fiscal year.

About NervGen Pharma

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.