NervGen Pharma (NASDAQ:NGEN) Announces Quarterly Earnings Results

NervGen Pharma (NASDAQ:NGEN) released its earnings results on Friday, May 15th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02), Zacks reports.

NervGen Pharma Stock Up 1.4%

NervGen Pharma stock traded up $0.03 during trading hours on Thursday, hitting $2.12. The company had a trading volume of 601,128 shares, compared to its average volume of 469,389. NervGen Pharma has a fifty-two week low of $1.70 and a fifty-two week high of $6.30. The company’s fifty day moving average is $2.63. The firm has a market capitalization of $170.94 million and a price-to-earnings ratio of -23.56.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NGEN. Stifel Nicolaus upgraded shares of NervGen Pharma to a “strong-buy” rating in a report on Thursday, April 23rd. TD Cowen started coverage on NervGen Pharma in a report on Thursday, June 11th. They set a “buy” rating for the company. Weiss Ratings began coverage on NervGen Pharma in a research note on Friday, April 24th. They issued a “sell (d-)” rating on the stock. Zacks Research raised NervGen Pharma to a “hold” rating in a research report on Wednesday, April 29th. Finally, HC Wainwright raised shares of NervGen Pharma to a “strong-buy” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

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.