Alzamend Neuro (NASDAQ:ALZN) Given New $28.00 Price Target at Ascendiant Capital Markets

Alzamend Neuro (NASDAQ:ALZN) had its price objective decreased by Ascendiant Capital Markets from $42.00 to $28.00 in a research note released on Monday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

Separately, Weiss Ratings restated a “sell (e)” rating on shares of Alzamend Neuro in a report on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.00.

Alzamend Neuro Price Performance

Shares of ALZN opened at $2.10 on Monday. The stock has a market capitalization of $7.98 million, a price-to-earnings ratio of -0.64 and a beta of -0.25. Alzamend Neuro has a 1 year low of $1.88 and a 1 year high of $11.70. The business’s 50 day simple moving average is $2.28 and its 200-day simple moving average is $2.54.

Alzamend Neuro (NASDAQ:ALZN) last posted its earnings results on Tuesday, December 9th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.53. On average, sell-side analysts expect that Alzamend Neuro will post -1.68 earnings per share for the current year.

Insider Buying and Selling at Alzamend Neuro

In related news, Director Milton C. Ault III sold 20,397 shares of Alzamend Neuro stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $2.32, for a total transaction of $47,321.04. Following the completion of the transaction, the director directly owned 8,260 shares of the company’s stock, valued at approximately $19,163.20. The trade was a 71.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 517,995 shares of company stock valued at $1,243,531 over the last quarter. Corporate insiders own 30.21% of the company’s stock.

Alzamend Neuro Company Profile

Alzamend Neuro, Inc, an early clinical-stage biopharmaceutical company, focuses on developing various products for the treatment of neurodegenerative and psychiatric disorders. The company's pipeline includes AL001, which delivers a therapeutic combination of lithium, proline, and salicylate for the treatment of Alzheimer's, bi-polar disorder, post-traumatic stress disorder, major depressive disorder, other neurodegenerative diseases, and psychiatric disorders; and ALZN002 stage, which uses a method using a mutant-peptide sensitized cell as a cell-based therapeutic vaccine to restore the ability of a patient's immunological system to combat Alzheimer's disease.