Stonepine Capital Management LLC Invests $559,657 in NervGen Pharma $NGEN

Stonepine Capital Management LLC bought a new position in NervGen Pharma (NASDAQ:NGEN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 271,678 shares of the company’s stock, valued at approximately $559,657. Stonepine Capital Management LLC owned about 0.34% of NervGen Pharma at the end of the most recent reporting period.

Separately, Empery Asset Management LP acquired a new stake in NervGen Pharma during the 2nd quarter worth about $8,240,000.

NervGen Pharma Price Performance

NGEN stock traded down $0.06 during trading hours on Friday, hitting $2.28. The company’s stock had a trading volume of 868,928 shares, compared to its average volume of 504,681. The stock has a market cap of $183.84 million and a P/E ratio of -4.96. NervGen Pharma has a 12 month low of $1.58 and a 12 month high of $6.30. The stock has a 50 day moving average of $1.84.

NervGen Pharma (NASDAQ:NGEN) last released 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). On average, analysts predict that NervGen Pharma will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 4th. Leerink Partners began coverage on NervGen Pharma in a research note on Monday, July 13th. They issued an “outperform” rating and a $10.00 price target for the company. Wall Street Zen downgraded shares of NervGen Pharma from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, TD Cowen initiated coverage on NervGen Pharma in a report on Thursday, June 11th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average 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.