NervGen Pharma (NASDAQ:NGEN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of NervGen Pharma (NASDAQ:NGEN) have received an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued 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 issued ratings on the stock in the last year is $14.00.

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

Institutional Trading of NervGen Pharma

Hedge funds have recently bought and sold shares of the business. Empery Asset Management LP acquired a new position in NervGen Pharma during the second quarter worth $8,240,000. Stonepine Capital Management LLC acquired a new position in shares of NervGen Pharma during the second quarter valued at about $559,657. Finally, AXQ Capital LP bought a new stake in shares of NervGen Pharma during the second quarter worth about $89,000.

NervGen Pharma Stock Down 9.7%

NervGen Pharma stock opened at $2.05 on Friday. The firm has a market cap of $165.29 million and a P/E ratio of -4.46. NervGen Pharma has a 12-month low of $1.58 and a 12-month high of $6.30. The company’s fifty day moving average is $1.91.

NervGen Pharma (NASDAQ:NGEN) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). On average, analysts anticipate that NervGen Pharma will post -0.46 earnings per share for the current fiscal year.

NervGen Pharma Company Profile

NervGen Pharma Corp. is a clinical-stage biotechnology company headquartered in Vancouver, British Columbia, focused on developing treatments that promote repair and recovery following damage to the nervous system. The company’s research is based on technology involving protein tyrosine phosphatase sigma, a receptor associated with the inhibition of nerve regeneration.

NervGen’s lead product candidate is NVG-291, an investigational peptide designed to support neural repair, axonal regeneration and functional recovery.