Cortexyme, Inc. (NASDAQ:CRTX) Receives Consensus Rating of “Hold” from Analysts

Cortexyme, Inc. (NASDAQ:CRTX – Get Rating) has earned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $25.80.

Several equities analysts recently issued reports on CRTX shares. HC Wainwright reduced their price objective on shares of Cortexyme from $30.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, March 9th. JMP Securities downgraded shares of Cortexyme from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 27th. Zacks Investment Research downgraded shares of Cortexyme from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. Canaccord Genuity Group downgraded shares of Cortexyme from a “buy” rating to a “hold” rating and cut their price target for the stock from $75.00 to $12.00 in a research note on Friday, January 28th. Finally, Canaccord Genuity Group downgraded shares of Cortexyme from a “buy” rating to a “hold” rating and cut their price target for the stock from $75.00 to $12.00 in a research note on Friday, January 28th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRTX. JPMorgan Chase & Co. grew its holdings in Cortexyme by 5,743.4% during the 1st quarter. JPMorgan Chase & Co. now owns 590,421 shares of the biopharmaceutical company’s stock worth $3,654,000 after acquiring an additional 580,317 shares in the last quarter. EPIQ Capital Group LLC grew its holdings in Cortexyme by 8.0% during the 4th quarter. EPIQ Capital Group LLC now owns 4,269,109 shares of the biopharmaceutical company’s stock worth $53,876,000 after acquiring an additional 315,514 shares in the last quarter. Federated Hermes Inc. grew its holdings in Cortexyme by 289.4% during the 1st quarter. Federated Hermes Inc. now owns 413,555 shares of the biopharmaceutical company’s stock worth $2,560,000 after acquiring an additional 307,351 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Cortexyme by 472.6% in the 4th quarter. Bank of America Corp DE now owns 224,376 shares of the biopharmaceutical company’s stock valued at $2,832,000 after buying an additional 284,598 shares during the period. Finally, PDT Partners LLC boosted its holdings in shares of Cortexyme by 342.1% in the 1st quarter. PDT Partners LLC now owns 363,875 shares of the biopharmaceutical company’s stock valued at $2,252,000 after buying an additional 281,560 shares during the period. 63.18% of the stock is owned by institutional investors and hedge funds.

CRTX stock opened at $2.84 on Wednesday. The company’s 50 day simple moving average is $4.61 and its 200-day simple moving average is $7.88. Cortexyme has a 12 month low of $2.78 and a 12 month high of $121.98.

Cortexyme (NASDAQ:CRTX – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.08). Equities analysts anticipate that Cortexyme will post -2.66 EPS for the current fiscal year.

Cortexyme Company Profile (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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