NervGen Pharma (NASDAQ:NGEN) Stock Rated “Moderate Buy” by Sell-Side Analysts

NervGen Pharma (NASDAQ:NGEN) has earned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $14.00.

A number of equities analysts have recently issued reports on the company. Leerink Partners started coverage on NervGen Pharma in a research note on Monday, July 13th. They set an “outperform” rating and a $10.00 target price for the company. Wall Street Zen upgraded NervGen Pharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 24th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NervGen Pharma in a report on Monday, November 2nd.

Institutional Investors Weigh In On NervGen Pharma

Institutional investors have recently made changes to their positions in the stock. Empery Asset Management LP acquired a new position in shares of NervGen Pharma during the 2nd quarter worth $8,240,000. Stonepine Capital Management LLC purchased a new position in shares of NervGen Pharma in the 2nd quarter valued at about $559,657. Finally, AXQ Capital LP purchased a new position in shares of NervGen Pharma in the 2nd quarter valued at about $89,000.

NervGen Pharma Stock Up 0.8%

NASDAQ NGEN opened at $1.33 on Friday. The stock has a market capitalization of $107.24 million and a PE ratio of -2.89. NervGen Pharma has a 52-week low of $1.28 and a 52-week high of $6.30. The business’s 50-day moving average price is $1.81.

NervGen Pharma (NASDAQ:NGEN) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). On average, equities research analysts predict that NervGen Pharma will post -0.55 earnings per share for the current year.

NervGen Pharma Company Profile

NervGen Pharma Corp. is a clinical-stage biotechnology company focused on developing therapies designed to promote nervous system repair and functional recovery after injury or disease. The company is headquartered in Vancouver, British Columbia, and is listed on the Nasdaq Capital Market and the TSX Venture Exchange under the symbol NGEN.

NervGen’s lead product candidate is NVG-291, an investigational peptide intended to enhance the body’s natural capacity for neural repair by modulating the protein tyrosine phosphatase sigma receptor.