NervGen Pharma (NASDAQ:NGEN) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of NervGen Pharma (NASDAQ:NGEN - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $14.00.

Several brokerages have commented on NGEN. Weiss Ratings downgraded shares of NervGen Pharma from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 4th. Leerink Partners assumed coverage on shares of NervGen Pharma in a report on Monday, July 13th. They issued an "outperform" rating and a $10.00 price target on the stock. HC Wainwright upgraded NervGen Pharma to a "strong-buy" rating in a research report on Tuesday, April 28th. Zacks Research raised NervGen Pharma to a "hold" rating in a research note on Wednesday, April 29th. Finally, TD Cowen initiated coverage on NervGen Pharma in a research note on Thursday, June 11th. They set a "buy" rating for the company.

Institutional Trading of NervGen Pharma

A number of large investors have recently modified their holdings of NGEN. AXQ Capital LP purchased a new position in shares of NervGen Pharma during the second quarter worth about $89,000. Stonepine Capital Management LLC purchased a new stake in NervGen Pharma in the second quarter valued at approximately $559,657,000. Finally, Empery Asset Management LP purchased a new stake in NervGen Pharma in the second quarter valued at approximately $8,240,000,000.

NervGen Pharma Stock Performance

Shares of NervGen Pharma stock opened at $2.00 on Tuesday. NervGen Pharma has a 12-month low of $1.58 and a 12-month high of $6.30. The stock has a market capitalization of $161.26 million and a P/E ratio of -4.35. The stock has a 50-day moving average price of $1.84.

NervGen Pharma (NASDAQ:NGEN - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.28). As a group, equities research analysts expect that NervGen Pharma will post -0.4 EPS for the current 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.

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