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

Cortexyme, Inc. (NASDAQ:CRTXGet 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:CRTXGet 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.

Further Reading

Analyst Recommendations for Cortexyme (NASDAQ:CRTX)

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