Cortexyme (NASDAQ:CRTX) Downgraded to “Sell” at Zacks Investment Research

Share on StockTwits

Zacks Investment Research cut shares of Cortexyme (NASDAQ:CRTX) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “Cortexyme Inc. is a clinical-stage biopharmaceutical company. It is focused on providing disease-modifying therapeutics to treat Alzheimer’s and other degenerative diseases. The company’s drug candidate consists of COR388 which is in clinical stage. Cortexyme Inc. is based in San Francisco, United States. “

CRTX has been the subject of a number of other reports. Canaccord Genuity reaffirmed a buy rating and issued a $70.00 target price (up from $42.00) on shares of Cortexyme in a research note on Wednesday, May 13th. Jefferies Financial Group initiated coverage on shares of Cortexyme in a research note on Tuesday, June 2nd. They issued a buy rating and a $59.00 price target for the company. HC Wainwright started coverage on Cortexyme in a research note on Wednesday, June 24th. They set a buy rating and a $76.00 target price for the company. ValuEngine cut Cortexyme from a buy rating to a hold rating in a report on Friday, June 5th. Finally, BidaskClub downgraded shares of Cortexyme from a strong-buy rating to a buy rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $62.50.

CRTX stock opened at $45.00 on Tuesday. The firm has a 50-day moving average of $48.57 and a two-hundred day moving average of $48.49. Cortexyme has a 12 month low of $19.35 and a 12 month high of $73.84.

Cortexyme (NASDAQ:CRTX) last posted its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.16). On average, sell-side analysts expect that Cortexyme will post -2.57 earnings per share for the current year.

In related news, Director David Lamond acquired 44,648 shares of the stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $56.09 per share, with a total value of $2,504,306.32. Following the completion of the transaction, the director now owns 301,829 shares in the company, valued at approximately $16,929,588.61. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Epiq Capital Group, Llc acquired 6,600 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $44.32 per share, with a total value of $292,512.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 120,596 shares of company stock valued at $5,944,646. Insiders own 19.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC acquired a new position in Cortexyme during the 1st quarter worth approximately $43,000. Golden State Wealth Management LLC acquired a new stake in shares of Cortexyme in the 1st quarter valued at $46,000. Victory Capital Management Inc. lifted its position in shares of Cortexyme by 109.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,665 shares of the biopharmaceutical company’s stock worth $78,000 after purchasing an additional 869 shares during the last quarter. Botty Investors LLC acquired a new position in shares of Cortexyme during the fourth quarter worth $86,000. Finally, Bank of Montreal Can acquired a new position in shares of Cortexyme during the fourth quarter worth $93,000. Institutional investors own 27.43% of the company’s stock.

Cortexyme Company Profile

Cortexyme, Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutics for Alzheimer's disease and other degenerative disorders. Its lead drug candidate is COR388, an orally-administered brain-penetrating small molecule gingipain inhibitor, which has completed Phase 1a and Phase 1b clinical trials for use in patients with mild to moderate Alzheimer's disease.

Recommended Story: Why Dividend Stocks May Be Right for You

Get a free copy of the Zacks research report on Cortexyme (CRTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cortexyme Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cortexyme and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Whittier Trust Co. of Nevada Inc. Lowers Stock Holdings in Paychex, Inc.
Whittier Trust Co. of Nevada Inc. Lowers Stock Holdings in Paychex, Inc.
Diageo  Upgraded by Bryan, Garnier & Co to Buy
Diageo Upgraded by Bryan, Garnier & Co to Buy
Whittier Trust Co. of Nevada Inc. Has $817,000 Stock Position in Novo Nordisk A/S
Whittier Trust Co. of Nevada Inc. Has $817,000 Stock Position in Novo Nordisk A/S
Patriot Financial Group Insurance Agency LLC Reduces Stock Holdings in Vanguard Small-Cap Value ETF
Patriot Financial Group Insurance Agency LLC Reduces Stock Holdings in Vanguard Small-Cap Value ETF
State Street Corp Has $215.48 Million Holdings in Mohawk Industries, Inc.
State Street Corp Has $215.48 Million Holdings in Mohawk Industries, Inc.
APG Asset Management N.V. Has $4.85 Million Position in Signature Bank
APG Asset Management N.V. Has $4.85 Million Position in Signature Bank


© 2006-2020 Ticker Report