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.
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.
Read More: What is the Hang Seng index?
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.