NervGen Pharma (NASDAQ:NGEN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NervGen Pharma (NASDAQ:NGEN) from a strong sell rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other brokerages have also commented on NGEN. Weiss Ratings lowered shares of NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 4th. Leerink Partners began coverage on shares of NervGen Pharma in a research report on Monday, July 13th. They set an “outperform” rating and a $10.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.00.

NervGen Pharma Stock Performance

NGEN stock opened at $1.42 on Friday. The stock has a fifty day simple moving average of $1.92. NervGen Pharma has a 1-year low of $1.37 and a 1-year high of $6.30.

NervGen Pharma (NASDAQ:NGEN) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). As a group, research analysts predict that NervGen Pharma will post -0.55 earnings per share for the current year.

Hedge Funds Weigh In On NervGen Pharma

A number of institutional investors have recently added to or reduced their stakes in NGEN. Empery Asset Management LP purchased a new position in NervGen Pharma in the 2nd quarter worth approximately $8,240,000. Stonepine Capital Management LLC purchased a new stake in shares of NervGen Pharma during the 2nd quarter valued at $559,657. Finally, AXQ Capital LP purchased a new stake in shares of NervGen Pharma during the 2nd quarter valued at $89,000.

About NervGen Pharma

NervGen Pharma Corp. is a clinical-stage biotechnology company focused on developing therapies designed to promote nervous system repair and functional recovery after injury or disease. The company is headquartered in Vancouver, British Columbia, and is listed on the Nasdaq Capital Market and the TSX Venture Exchange under the symbol NGEN.

NervGen’s lead product candidate is NVG-291, an investigational peptide intended to enhance the body’s natural capacity for neural repair by modulating the protein tyrosine phosphatase sigma receptor.