Cortexyme, Inc. (NASDAQ:CRTX) Receives $68.33 Consensus Target Price from Analysts

Shares of Cortexyme, Inc. (NASDAQ:CRTX) have earned an average rating of “Buy” from the six analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $68.33.

Several research analysts recently issued reports on the stock. BidaskClub lowered shares of Cortexyme from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. HC Wainwright assumed coverage on shares of Cortexyme in a research report on Wednesday, June 24th. They issued a “buy” rating and a $76.00 target price for the company. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 target price (up from $42.00) on shares of Cortexyme in a research report on Wednesday, May 13th. Zacks Investment Research lowered shares of Cortexyme from a “hold” rating to a “sell” rating in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group assumed coverage on shares of Cortexyme in a research report on Tuesday, June 2nd. They issued a “buy” rating and a $59.00 target price for the company.

Shares of NASDAQ:CRTX traded up $0.13 during mid-day trading on Wednesday, reaching $47.28. The company had a trading volume of 2,945 shares, compared to its average volume of 208,457. The firm has a market cap of $1.36 billion and a price-to-earnings ratio of -23.00. The company’s 50-day moving average price is $48.44 and its 200-day moving average price is $48.14. Cortexyme has a one year low of $19.35 and a one year high of $73.84.

Cortexyme (NASDAQ:CRTX) last issued its 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, equities analysts expect that Cortexyme will post -2.57 EPS for the current fiscal year.

In other Cortexyme news, insider Epiq Capital Group, Llc purchased 8,690 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $55.08 per share, for a total transaction of $478,645.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Lamond purchased 5,448 shares of the business’s stock in a transaction on Friday, May 15th. The shares were acquired at an average price of $48.93 per share, with a total value of $266,570.64. Following the completion of the transaction, the director now owns 301,829 shares of the company’s stock, valued at $14,768,492.97. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 120,596 shares of company stock valued at $5,944,646. Company insiders own 19.80% of the company’s stock.

Several large investors have recently modified their holdings of CRTX. Parallel Advisors LLC bought a new position in Cortexyme in the first quarter worth approximately $43,000. Golden State Wealth Management LLC bought a new stake in shares of Cortexyme during the 1st quarter valued at $46,000. Victory Capital Management Inc. raised 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 valued at $78,000 after purchasing an additional 869 shares during the period. Botty Investors LLC bought a new stake in shares of Cortexyme during the 4th quarter valued at $86,000. Finally, Bank of Montreal Can bought a new stake in shares of Cortexyme during the 4th quarter valued at $93,000. 27.43% of the stock is owned by hedge funds and other institutional investors.

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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