Cortexyme (NASDAQ:CRTX) was downgraded by JMP Securities from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, Briefing.com reports.
A number of other equities analysts also recently weighed in on CRTX. HC Wainwright lowered their target price on shares of Cortexyme from $200.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, October 27th. Bank of America cut shares of Cortexyme from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $58.00 to $15.00 in a research report on Wednesday, October 27th. reduced their price objective on shares of Cortexyme from $150.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, October 27th. Needham & Company LLC assumed coverage on shares of Cortexyme in a research report on Wednesday, October 6th. They set a “buy” rating for the company. Finally, Zacks Investment Research raised shares of Cortexyme from a “sell” rating to a “hold” rating in a research report on Wednesday, January 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $38.50.
Shares of CRTX opened at $6.21 on Thursday. The company has a market cap of $185.54 million, a price-to-earnings ratio of -2.11 and a beta of 0.26. Cortexyme has a 1-year low of $5.60 and a 1-year high of $121.98. The company’s fifty day simple moving average is $11.98 and its 200 day simple moving average is $49.00.
Cortexyme (NASDAQ:CRTX) last issued its earnings results on Friday, October 29th. The biopharmaceutical company reported ($0.73) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.73). On average, analysts predict that Cortexyme will post -2.84 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in CRTX. Nisa Investment Advisors LLC bought a new stake in shares of Cortexyme in the third quarter valued at about $27,000. Advisor Group Holdings Inc. boosted its position in shares of Cortexyme by 116.0% in the second quarter. Advisor Group Holdings Inc. now owns 1,080 shares of the biopharmaceutical company’s stock valued at $58,000 after acquiring an additional 580 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Cortexyme in the third quarter valued at about $79,000. Point72 Hong Kong Ltd boosted its position in shares of Cortexyme by 326.5% in the third quarter. Point72 Hong Kong Ltd now owns 998 shares of the biopharmaceutical company’s stock valued at $91,000 after acquiring an additional 764 shares during the period. Finally, Strs Ohio boosted its position in shares of Cortexyme by 97.6% in the fourth quarter. Strs Ohio now owns 8,100 shares of the biopharmaceutical company’s stock valued at $102,000 after acquiring an additional 4,000 shares during the period. 58.55% of the stock is owned by institutional investors.
Cortexyme Company Profile
Cortexyme, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapeutics. Its pipeline comprises COR388, COR588, COR788, COR822, and Coronavirus 3CL protease inhibitor. The company was founded by Casey Crawford Lynch, Stephen Dominy, and Kristen Gafric on June 20, 2012 and is headquartered in South San Francisco, CA.