NervGen Pharma (NASDAQ:NGEN) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

NervGen Pharma (NASDAQ:NGEN) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $14.00.

Several equities analysts recently issued reports on the company. Leerink Partners began coverage on NervGen Pharma in a research report on Monday, July 13th. They issued an “outperform” rating and a $10.00 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NervGen Pharma in a research report on Monday, November 2nd. Finally, Wall Street Zen upgraded NervGen Pharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 24th.

NervGen Pharma Trading Up 0.8%

NASDAQ NGEN opened at $1.33 on Friday. The firm has a market capitalization of $107.24 million and a price-to-earnings ratio of -2.89. NervGen Pharma has a one year low of $1.28 and a one year high of $6.30. The company has a fifty day simple moving average of $1.81.

NervGen Pharma (NASDAQ:NGEN) last announced 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). Research analysts anticipate that NervGen Pharma will post -0.55 EPS for the current year.

Institutional Investors Weigh In On NervGen Pharma

Large investors have recently modified their holdings of the stock. Empery Asset Management LP purchased a new position in NervGen Pharma in the 2nd quarter valued at $8,240,000. Stonepine Capital Management LLC acquired a new position in NervGen Pharma in the 2nd quarter valued at $559,657. Finally, AXQ Capital LP acquired a new position in NervGen Pharma in the 2nd quarter valued at $89,000.

NervGen Pharma Company Profile

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.