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

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

A number of equities analysts recently commented on NGEN shares. Wall Street Zen cut NervGen Pharma from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings downgraded NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report 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 for the company.

NervGen Pharma Stock Down 5.8%

NGEN opened at $1.63 on Wednesday. The stock has a 50 day simple moving average of $1.96. The company has a market capitalization of $131.43 million and a P/E ratio of -3.54. NervGen Pharma has a 1-year low of $1.58 and a 1-year high of $6.30.

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

Institutional Inflows and Outflows

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

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.