NervGen Pharma (NASDAQ:NGEN – Get Free Report) saw a large increase in short interest in May. As of May 29th, there was short interest totaling 3,085,310 shares, an increase of 97.4% from the May 14th total of 1,563,015 shares. Approximately 3.8% of the shares of the stock are sold short. Based on an average daily volume of 2,424,478 shares, the days-to-cover ratio is currently 1.3 days.
Wall Street Analysts Forecast Growth
Several research firms have commented on NGEN. Weiss Ratings initiated coverage on NervGen Pharma in a research report on Friday, April 24th. They issued a “sell (d-)” rating for the company. Zacks Research raised NervGen Pharma to a “hold” rating in a research report on Wednesday, April 29th. Stifel Nicolaus raised NervGen Pharma to a “strong-buy” rating in a research report on Thursday, April 23rd. HC Wainwright upgraded NervGen Pharma to a “strong-buy” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen upgraded NervGen Pharma from a “sell” rating to a “hold” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.00.
View Our Latest Report on NervGen Pharma
NervGen Pharma Trading Down 3.1%
NervGen Pharma (NASDAQ:NGEN – Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported $999.00 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $999.07.
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.
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