NervGen Pharma (NASDAQ:NGEN) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded NervGen Pharma from hold to sell, adding to a mixed analyst picture for the stock.
• Despite the latest downgrade, the overall analyst consensus remains Moderate Buy with an average price target of $18.00, though recent ratings have been split across Strong Buy, Buy, Hold, and Sell.
• NervGen Pharma shares were trading at $1.88, near the bottom of their 52-week range of $1.70 to $6.30, and the company recently reported an EPS miss versus expectations.

NervGen Pharma (NASDAQ:NGEN - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday.

NGEN has been the topic of several other research reports. Zacks Research raised NervGen Pharma to a "hold" rating in a research report on Wednesday, April 29th. Stifel Nicolaus raised NervGen Pharma to a "strong-buy" rating in a report on Thursday, April 23rd. TD Cowen started coverage on shares of NervGen Pharma in a research note 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 report on Tuesday, April 28th. Finally, Weiss Ratings started coverage on shares of NervGen Pharma in a research report on Friday, April 24th. They set a "sell (d-)" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.00.

NervGen Pharma Price Performance

NASDAQ:NGEN traded up $0.02 during trading hours on Friday, hitting $1.88. The company's stock had a trading volume of 785,706 shares, compared to its average volume of 480,269. The company has a market capitalization of $151.59 million and a PE ratio of -20.89. The company has a fifty day simple moving average of $2.48. NervGen Pharma has a 52-week low of $1.70 and a 52-week high of $6.30.

NervGen Pharma (NASDAQ:NGEN - Get Free Report) last announced its quarterly 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).

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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