Cortexyme (NASDAQ:CRTX) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Cortexyme (NASDAQ:CRTX) from a sell rating to a hold rating in a research report report published on Wednesday morning, BidAskClub reports.

Other equities research analysts also recently issued research reports about the company. Lifesci Capital reissued an outperform rating on shares of Cortexyme in a research report on Thursday, September 24th. Zacks Investment Research raised Cortexyme from a sell rating to a hold rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Cortexyme currently has an average rating of Buy and an average price target of $62.50.

Cortexyme stock opened at $49.67 on Wednesday. The firm has a market capitalization of $1.46 billion, a P/E ratio of -24.35 and a beta of 1.32. The stock has a fifty day moving average price of $50.31 and a 200 day moving average price of $46.62. Cortexyme has a 52 week low of $20.14 and a 52 week high of $73.84.

Cortexyme (NASDAQ:CRTX) last released its earnings results on Monday, August 17th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.62) by $0.02. As a group, equities research analysts forecast that Cortexyme will post -2.39 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Schonfeld Strategic Advisors LLC acquired a new stake in Cortexyme during the second quarter valued at approximately $631,000. Principal Financial Group Inc. bought a new position in Cortexyme in the 2nd quarter worth approximately $291,000. Nuveen Asset Management LLC boosted its stake in Cortexyme by 63.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 74,374 shares of the biopharmaceutical company’s stock valued at $3,443,000 after purchasing an additional 28,985 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Cortexyme by 30.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 56,851 shares of the biopharmaceutical company’s stock valued at $2,633,000 after purchasing an additional 13,176 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Cortexyme by 34.9% during the 2nd quarter. California State Teachers Retirement System now owns 23,715 shares of the biopharmaceutical company’s stock valued at $1,098,000 after purchasing an additional 6,131 shares in the last quarter. 51.71% of the stock is owned by institutional investors.

About Cortexyme

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 is in Phase II/III for use in patients with mild to moderate Alzheimer's disease.

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