NervGen Pharma (NASDAQ:NGEN) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded NervGen Pharma from “sell” to “hold”, adding to a mixed analyst picture that currently lands at a Moderate Buy consensus with an average price target of $14.00.
• The stock was trading near its lows, opening at $1.67 versus a 12-month range of $1.59 to $6.30, with a market cap of about $134.65 million.
• NervGen Pharma recently reported a Q1 loss of $0.09 per share, missing estimates, while its lead drug candidate NVG-291 continues clinical testing for spinal cord injury and other neurological conditions.

NervGen Pharma (NASDAQ:NGEN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Monday.

A number of other brokerages have also recently weighed in on NGEN. Weiss Ratings assumed coverage on shares of NervGen Pharma in a research note on Friday, April 24th. They set a "sell (d-)" rating on the stock. Stifel Nicolaus upgraded shares of NervGen Pharma to a "strong-buy" rating in a research report on Thursday, April 23rd. Zacks Research raised shares of NervGen Pharma to a "hold" rating in a research note on Wednesday, April 29th. TD Cowen started coverage on shares of NervGen Pharma in a research report on Thursday, June 11th. They set a "buy" rating on the stock. Finally, Leerink Partners started coverage on shares of NervGen Pharma in a research note on Monday, July 13th. They issued an "outperform" rating and a $10.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NervGen Pharma has a consensus rating of "Moderate Buy" and an average price target of $14.00.

NervGen Pharma Stock Performance

NGEN opened at $1.67 on Monday. NervGen Pharma has a 12 month low of $1.59 and a 12 month high of $6.30. The firm has a market cap of $134.65 million and a PE ratio of -18.56. The firm has a 50 day simple moving average of $2.27.

NervGen Pharma (NASDAQ:NGEN - Get Free Report) last announced its earnings results on Friday, May 15th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate 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.