NervGen Pharma (NASDAQ:NGEN) Releases Quarterly Earnings Results, Misses Expectations By $0.28 EPS

NervGen Pharma (NASDAQ:NGEN) announced its quarterly earnings data on Thursday. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.28), Zacks reports.

NervGen Pharma Stock Down 1.4%

Shares of NGEN traded down $0.03 during mid-day trading on Friday, reaching $1.74. 562,012 shares of the company’s stock traded hands, compared to its average volume of 426,820. The firm’s 50-day simple moving average is $1.84. The company has a market cap of $139.89 million and a PE ratio of -19.28. NervGen Pharma has a 12 month low of $1.58 and a 12 month high of $6.30.

Wall Street Analyst Weigh In

NGEN has been the subject of a number of research reports. Wall Street Zen downgraded shares of NervGen Pharma from a “hold” rating to a “strong sell” rating in a research report on Saturday. Leerink Partners assumed coverage on NervGen Pharma in a report on Monday, July 13th. They issued an “outperform” rating and a $10.00 price target for the company. Weiss Ratings lowered NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. HC Wainwright upgraded shares of NervGen Pharma to a “strong-buy” rating in a report on Tuesday, April 28th. Finally, Zacks Research upgraded shares of NervGen Pharma to a “hold” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.00.

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.