NervGen Pharma (NASDAQ:NGEN) Stock Has Average Target Price of $14.00

NervGen Pharma (NASDAQ:NGEN) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $14.00.

Several brokerages recently issued reports on NGEN. Wall Street Zen cut shares of NervGen Pharma from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings lowered shares of NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. Finally, Leerink Partners assumed coverage on NervGen Pharma in a report on Monday, July 13th. They set an “outperform” rating and a $10.00 price target on the stock.

Institutional Trading of NervGen Pharma

A number of hedge funds have recently bought and sold shares of NGEN. Empery Asset Management LP bought a new position in NervGen Pharma in the second quarter valued at about $8,240,000. Stonepine Capital Management LLC bought a new stake in shares of NervGen Pharma during the 2nd quarter valued at about $559,657. Finally, AXQ Capital LP purchased a new stake in shares of NervGen Pharma during the 2nd quarter valued at about $89,000.

NervGen Pharma Stock Performance

Shares of NASDAQ NGEN opened at $1.63 on Wednesday. The company’s 50-day moving average is $1.96. NervGen Pharma has a 52-week low of $1.58 and a 52-week high of $6.30. The stock has a market cap of $131.43 million and a P/E ratio of -3.54.

NervGen Pharma (NASDAQ:NGEN) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.28). As a group, equities research analysts forecast that NervGen Pharma will post -0.46 EPS for the current fiscal year.

NervGen Pharma Company Profile

NervGen Pharma Corp. is a clinical-stage biotechnology company focused on developing therapies that promote repair and recovery in the nervous system. The company’s research is based on the potential to enhance the body’s natural ability to regenerate damaged nerve tissue and restore lost neurological function.

NervGen’s lead product candidate, NVG-291, is an investigational peptide designed to stimulate nervous-system repair after injury. The company has been evaluating NVG-291 in clinical development for conditions including spinal cord injury, with additional potential applications in neurological disorders such as multiple sclerosis and peripheral nerve damage.

Headquartered in Vancouver, British Columbia, NervGen serves the global biotechnology and healthcare markets through its research and clinical-development programs.