NervGen Pharma (NASDAQ:NGEN) Stock Rating Lowered by Wall Street Zen

NervGen Pharma (NASDAQ:NGEN) was downgraded by Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also recently commented on NGEN. Weiss Ratings cut NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. HC Wainwright raised NervGen Pharma to a “strong-buy” rating in a research note on Tuesday, April 28th. Zacks Research raised NervGen Pharma to a “hold” rating in a research note on Wednesday, April 29th. Leerink Partners started coverage on shares of NervGen Pharma in a research report on Monday, July 13th. They issued an “outperform” rating and a $10.00 price target on the stock. Finally, TD Cowen began coverage on shares of NervGen Pharma in a research note on Thursday, June 11th. They set a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.00.

NervGen Pharma Price Performance

NGEN opened at $1.74 on Friday. The stock’s fifty day simple moving average is $1.84. NervGen Pharma has a 52 week low of $1.58 and a 52 week high of $6.30. The firm has a market cap of $139.89 million and a price-to-earnings ratio of -19.28.

NervGen Pharma (NASDAQ:NGEN) last issued its earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.28). Equities analysts forecast that NervGen Pharma will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of NervGen Pharma

A hedge fund recently bought a new stake in NervGen Pharma stock. Empery Asset Management LP bought a new stake in NervGen Pharma (NASDAQ:NGEN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,000,000 shares of the company’s stock, valued at approximately $8,240,000,000. NervGen Pharma accounts for about 9.5% of Empery Asset Management LP’s portfolio, making the stock its 3rd largest position. Empery Asset Management LP owned about 4.96% of NervGen Pharma as of its most recent filing with the Securities and Exchange Commission (SEC).

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.