Empery Asset Management LP Acquires Shares of 4,000,000 NervGen Pharma $NGEN

Empery Asset Management LP acquired a new stake in NervGen Pharma (NASDAQ:NGEN) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,000,000 shares of the company’s stock, valued at approximately $8,240,000,000. NervGen Pharma accounts for approximately 9.5% of Empery Asset Management LP’s investment portfolio, making the stock its 3rd largest holding.

NervGen Pharma Trading Up 5.7%

NASDAQ NGEN opened at $1.86 on Friday. The firm has a market capitalization of $149.97 million and a price-to-earnings ratio of -4.04. The business’s 50 day moving average price is $1.83. NervGen Pharma has a 1-year low of $1.58 and a 1-year high of $6.30.

NervGen Pharma (NASDAQ:NGEN) last posted its earnings results 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). Research analysts expect that NervGen Pharma will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

NGEN has been the subject of several analyst reports. Wall Street Zen downgraded NervGen Pharma from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 15th. Zacks Research upgraded NervGen Pharma to a “hold” rating in a research note on Wednesday, April 29th. Weiss Ratings lowered NervGen Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 4th. TD Cowen initiated coverage on NervGen Pharma in a report on Thursday, June 11th. They set a “buy” rating for the company. Finally, HC Wainwright upgraded shares of NervGen Pharma to a “strong-buy” rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.