NervGen Pharma (NASDAQ:NGEN) Releases Quarterly Earnings Results, Misses Expectations By $0.28 EPS

NervGen Pharma (NASDAQ:NGEN) posted its quarterly earnings data on Thursday. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28), Zacks reports.

NervGen Pharma Stock Performance

Shares of NGEN stock remained flat at $1.76 during mid-day trading on Thursday. The stock had a trading volume of 553,002 shares, compared to its average volume of 494,818. The business’s 50 day moving average price is $1.85. NervGen Pharma has a 1 year low of $1.58 and a 1 year high of $6.30. The firm has a market cap of $141.91 million and a P/E ratio of -19.56.

Analyst Upgrades and Downgrades

NGEN has been the topic of a number of analyst reports. HC Wainwright upgraded NervGen Pharma to a “strong-buy” rating in a research report on Tuesday, April 28th. Leerink Partners started coverage on NervGen Pharma in a research report on Monday, July 13th. They set an “outperform” rating and a $10.00 price objective for the company. TD Cowen started coverage on NervGen Pharma in a research note on Thursday, June 11th. They issued a “buy” rating on the stock. Wall Street Zen raised shares of NervGen Pharma from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Stifel Nicolaus upgraded shares of NervGen Pharma to a “strong-buy” rating in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

About NervGen Pharma

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.