NervGen Pharma (NASDAQ:NGEN) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of NervGen Pharma (NASDAQ:NGEN) from a hold rating to a strong sell rating in a research note published on Saturday morning.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus raised shares of NervGen Pharma to a “strong-buy” rating in a report on Thursday, April 23rd. HC Wainwright raised shares of NervGen Pharma to a “strong-buy” rating in a research report on Tuesday, April 28th. TD Cowen began coverage on NervGen Pharma in a research note on Thursday, June 11th. They issued a “buy” rating on the stock. Zacks Research raised NervGen Pharma to a “hold” rating in a report on Wednesday, April 29th. Finally, Leerink Partners assumed coverage on NervGen Pharma in a research note on Monday, July 13th. They issued an “outperform” rating and a $10.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NervGen Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

NervGen Pharma Price Performance

NervGen Pharma stock opened at $1.74 on Friday. NervGen Pharma has a 1-year low of $1.58 and a 1-year high of $6.30. The company has a market capitalization of $139.89 million and a price-to-earnings ratio of -19.28. The firm has a fifty day simple moving average of $1.84.

NervGen Pharma (NASDAQ:NGEN) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). As a group, sell-side analysts forecast that NervGen Pharma will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of NervGen Pharma

An institutional investor recently bought a new position in NervGen Pharma stock. Empery Asset Management LP acquired a new position in NervGen Pharma (NASDAQ:NGEN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,000,000 shares of the company’s stock, valued at approximately $8,240,000,000. NervGen Pharma comprises about 9.5% of Empery Asset Management LP’s portfolio, making the stock its 3rd biggest position. Empery Asset Management LP owned about 4.96% of NervGen Pharma as of its most recent SEC filing.

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.