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.
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.
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