Cyclerion Therapeutics (NASDAQ:KRSA) Releases Earnings Results, Beats Expectations By $47.21 EPS

Cyclerion Therapeutics (NASDAQ:KRSA) issued its quarterly earnings data on Thursday. The company reported ($3.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($50.40) by $47.21, Zacks reports.

Cyclerion Therapeutics Trading Up 2.0%

Shares of NASDAQ KRSA traded up $0.62 during midday trading on Friday, reaching $31.05. The company had a trading volume of 65,598 shares, compared to its average volume of 154,760. Cyclerion Therapeutics has a 1 year low of $7.19 and a 1 year high of $59.36. The company’s 50-day moving average is $32.16.

Analyst Ratings Changes

KRSA has been the subject of a number of analyst reports. TD Cowen started coverage on shares of Cyclerion Therapeutics in a research report on Monday, September 14th. They set a “buy” rating for the company. UBS Group started coverage on Cyclerion Therapeutics in a research report on Friday, September 11th. They set a “buy” rating and a $55.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cyclerion Therapeutics in a report on Friday, July 24th. Guggenheim began coverage on Cyclerion Therapeutics in a research report on Monday, September 28th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Zacks Research upgraded Cyclerion Therapeutics to a “hold” rating in a research note on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.00.

About Cyclerion Therapeutics

Cyclerion Therapeutics, Inc was a clinical-stage biopharmaceutical company focused on developing medicines for serious central nervous system and cardiopulmonary diseases. The company’s research centered on soluble guanylate cyclase (sGC) stimulators, a class of compounds intended to regulate cellular signaling and potentially address diseases associated with impaired nitric oxide signaling.

Cyclerion was formed in 2019 as a spin-off from Ironwood Pharmaceuticals. Its historical development portfolio included olinciguat, an investigational treatment studied for sickle cell disease, and praliciguat, which was evaluated for conditions including diabetic nephropathy and nonalcoholic steatohepatitis.