NervGen Pharma (NASDAQ:NGEN) Now Covered by Leerink Partners

Key Points

• Leerink Partners initiated coverage on NervGen Pharma with an outperform rating and a $10 price target, implying significant upside from the current share price.
• Analyst sentiment is mixed overall, with several firms issuing bullish ratings, while others have downgraded or assigned sell ratings; MarketBeat shows an average rating of Moderate Buy.
• NervGen Pharma’s stock was trading at $1.88, near its 52-week low, and the company recently reported a Q1 EPS loss of $0.09, which was wider than expected.

Leerink Partners assumed coverage on shares of NervGen Pharma (NASDAQ:NGEN - Get Free Report) in a report issued on Monday. The brokerage set an "outperform" rating and a $10.00 price target on the stock. Leerink Partners' target price suggests a potential upside of 431.91% from the stock's current price.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus upgraded shares of NervGen Pharma to a "strong-buy" rating in a report on Thursday, April 23rd. HC Wainwright upgraded shares of NervGen Pharma to a "strong-buy" rating in a report on Tuesday, April 28th. Wall Street Zen cut shares of NervGen Pharma from a "hold" rating to a "sell" rating in a research report on Sunday. Weiss Ratings assumed coverage on NervGen Pharma in a research note on Friday, April 24th. They set a "sell (d-)" rating for the company. Finally, TD Cowen began coverage on NervGen Pharma in a report on Thursday, June 11th. They set a "buy" rating for the company. Two investment 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 assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $14.00.

NervGen Pharma Stock Performance

NASDAQ NGEN opened at $1.88 on Monday. The company has a market capitalization of $151.59 million and a P/E ratio of -20.89. NervGen Pharma has a 52 week low of $1.70 and a 52 week high of $6.30. The firm's 50 day moving average price is $2.48.

NervGen Pharma (NASDAQ:NGEN - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02).

NervGen Pharma Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.