NervGen Pharma (NASDAQ:NGEN) Receives Consensus Rating of “Moderate Buy” from Analysts

NervGen Pharma (NASDAQ:NGEN) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $14.00.

A number of brokerages have recently commented on NGEN. Leerink Partners started coverage on shares of NervGen Pharma in a research report on Monday, July 13th. They issued an “outperform” rating and a $10.00 price objective on the stock. TD Cowen began coverage on NervGen Pharma in a research report on Thursday, June 11th. They issued a “buy” rating for the company. Wall Street Zen downgraded NervGen Pharma from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings cut shares of NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 4th.

NervGen Pharma Stock Down 3.1%

Shares of NGEN stock opened at $2.21 on Tuesday. NervGen Pharma has a 52 week low of $1.58 and a 52 week high of $6.30. The business’s 50 day moving average is $1.84. The firm has a market cap of $178.19 million and a P/E ratio of -4.80.

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 analysts’ consensus estimates of ($0.09) by ($0.28). On average, sell-side analysts forecast that NervGen Pharma will post -0.4 earnings per share for the current year.

Institutional Trading of NervGen Pharma

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

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.