NervGen Pharma (NASDAQ:NGEN) Announces Quarterly Earnings Results

NervGen Pharma (NASDAQ:NGEN) announced its quarterly earnings results 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 Down 1.1%

Shares of NASDAQ:NGEN traded down $0.02 during trading on Friday, hitting $1.74. 436,652 shares of the company were exchanged, compared to its average volume of 494,274. The company has a 50 day moving average of $1.84. NervGen Pharma has a 12-month low of $1.58 and a 12-month high of $6.30. The stock has a market capitalization of $140.30 million and a PE ratio of -19.06.

Wall Street Analyst Weigh In

NGEN has been the topic of a number of research reports. Zacks Research upgraded NervGen Pharma to a “hold” rating in a research note on Wednesday, April 29th. Stifel Nicolaus upgraded NervGen Pharma to a “strong-buy” rating in a report on Thursday, April 23rd. 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. Wall Street Zen raised shares of NervGen Pharma from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, TD Cowen initiated coverage on shares of NervGen Pharma in a research note on Thursday, June 11th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.