Cortexyme (NASDAQ:CRTX) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Cortexyme (NASDAQ:CRTXGet Rating) from a buy rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Cortexyme Inc. is a clinical-stage biopharmaceutical company. It is focused on providing disease-modifying therapeutics to treat Alzheimer’s and other degenerative diseases. The company’s drug candidate consists of COR388 which is in clinical stage. Cortexyme Inc. is based in San Francisco, United States. “

Several other analysts also recently commented on the stock. JMP Securities downgraded shares of Cortexyme from an outperform rating to a market perform rating in a research report on Thursday, January 27th. Canaccord Genuity Group downgraded shares of Cortexyme from a buy rating to a hold rating and reduced their price target for the company from $75.00 to $12.00 in a report on Friday, January 28th. Canaccord Genuity Group downgraded shares of Cortexyme from a buy rating to a hold rating and reduced their price target for the company from $75.00 to $12.00 in a report on Friday, January 28th. Finally, HC Wainwright reduced their price target on shares of Cortexyme from $30.00 to $15.00 and set a buy rating on the stock in a report on Wednesday, March 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Cortexyme currently has an average rating of Hold and a consensus price target of $22.21.

Shares of CRTX stock opened at $3.72 on Tuesday. The company has a market capitalization of $112.14 million, a price-to-earnings ratio of -1.27 and a beta of 1.34. Cortexyme has a one year low of $3.22 and a one year high of $121.98. The company’s fifty day moving average price is $4.92 and its 200-day moving average price is $9.33.

Cortexyme (NASDAQ:CRTXGet Rating) last announced its quarterly earnings data on Tuesday, March 1st. The biopharmaceutical company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.13). As a group, equities analysts expect that Cortexyme will post -2.66 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its holdings in Cortexyme by 4.9% during the 2nd quarter. Wells Fargo & Company MN now owns 12,398 shares of the biopharmaceutical company’s stock valued at $657,000 after buying an additional 583 shares in the last quarter. Credit Suisse AG lifted its holdings in Cortexyme by 7.4% during the 3rd quarter. Credit Suisse AG now owns 10,324 shares of the biopharmaceutical company’s stock valued at $946,000 after buying an additional 715 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of Cortexyme by 326.5% in the 3rd quarter. Point72 Hong Kong Ltd now owns 998 shares of the biopharmaceutical company’s stock valued at $91,000 after purchasing an additional 764 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Cortexyme in the 3rd quarter valued at about $79,000. Finally, GSA Capital Partners LLP raised its holdings in shares of Cortexyme by 13.2% in the 3rd quarter. GSA Capital Partners LLP now owns 15,053 shares of the biopharmaceutical company’s stock valued at $1,380,000 after purchasing an additional 1,758 shares in the last quarter. Institutional investors own 63.18% of the company’s stock.

About Cortexyme (Get Rating)

Cortexyme, Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutics for Alzheimer's and other degenerative diseases. Its lead drug candidate is atuzaginstat (COR388), an orally administered brain-penetrating small molecule gingipain inhibitor, which is in Phase II/III clinical trial for use in patients with mild to moderate Alzheimer's disease, as well as for the treatment of oral squamous cell carcinoma, periodontitis, and coronavirus infection.

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