CNS Pharmaceuticals (NASDAQ:CNSP) Trading 2% Higher – Still a Buy?

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) was up 2% during trading on Wednesday . The company traded as high as $6.01 and last traded at $6.01. Approximately 19,666 shares changed hands during mid-day trading, an increase of 159% from the average daily volume of 7,586 shares. The stock had previously closed at $5.89.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CNS Pharmaceuticals in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.00.

CNS Pharmaceuticals Trading Up 2.0%

The stock’s 50-day simple moving average is $5.26 and its 200-day simple moving average is $4.24. The stock has a market cap of $8.77 million, a price-to-earnings ratio of -0.25 and a beta of 3.06.

CNS Pharmaceuticals (NASDAQ:CNSP) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.14).

Hedge Funds Weigh In On CNS Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Boothbay Fund Management LLC acquired a new position in shares of CNS Pharmaceuticals during the 4th quarter worth $71,000. Stonepine Capital Management LLC bought a new position in CNS Pharmaceuticals in the second quarter valued at about $198,719. Ikarian Capital LLC bought a new position in CNS Pharmaceuticals in the fourth quarter valued at about $241,000. Armistice Capital LLC acquired a new position in CNS Pharmaceuticals during the second quarter worth about $335,000. Finally, ADAR1 Capital Management LLC acquired a new position in CNS Pharmaceuticals during the second quarter worth about $335,000. Institutional investors own 14.02% of the company’s stock.

CNS Pharmaceuticals Company Profile

CNS Pharmaceuticals, Inc, headquartered in Houston, Texas, is a clinical-stage biopharmaceutical company focused on developing therapies for aggressive central nervous system tumors. The company’s lead candidate, berubicin, is an anthracycline derivative engineered to cross the blood-brain barrier for the treatment of glioblastoma multiforme and other brain cancers. In addition to berubicin, CNS Pharmaceuticals is advancing WP1066, an immunotherapy agent designed to inhibit the STAT3 signaling pathway and enhance anti-tumor immune activity in the tumor microenvironment.

Berubicin has completed a Phase 1 clinical trial in patients with recurrent glioblastoma, where it demonstrated proof-of-concept signals, and is currently in Phase 2 development.