Zacks: Cortexyme, Inc. (NASDAQ:CRTX) Given $41.67 Consensus Price Target by Analysts

Shares of Cortexyme, Inc. (NASDAQ:CRTX) have been given an average broker rating score of 1.67 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company.

Analysts have set a one year consensus target price of $41.67 for the company and are expecting that the company will post ($0.28) EPS for the current quarter, according to Zacks. Zacks has also assigned Cortexyme an industry rank of 90 out of 256 based on the ratings given to its competitors.

Several brokerages have issued reports on CRTX. Canaccord Genuity began coverage on Cortexyme in a research note on Monday, June 3rd. They issued a “buy” rating and a $42.00 target price on the stock. Bank of America initiated coverage on Cortexyme in a research report on Monday, June 3rd. They set a “neutral” rating and a $28.00 target price for the company. Zacks Investment Research upgraded Cortexyme from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Wednesday, August 14th. Credit Suisse Group began coverage on Cortexyme in a report on Monday, June 3rd. They issued an “underperform” rating and a $14.00 price objective for the company. Finally, JMP Securities started coverage on Cortexyme in a report on Monday, June 3rd. They issued a “mkt outperform” rating and a $53.00 price objective for the company.

In other Cortexyme news, insider Epiq Capital Group, Llc bought 2,800 shares of the company’s stock in a transaction on Monday, August 19th. The shares were bought at an average cost of $26.46 per share, with a total value of $74,088.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of institutional investors and hedge funds have recently made changes to their positions in CRTX. JPMorgan Chase & Co. bought a new stake in shares of Cortexyme in the 2nd quarter valued at about $78,000. Wells Fargo & Company MN acquired a new position in shares of Cortexyme in the 2nd quarter valued at approximately $191,000. Bank of New York Mellon Corp acquired a new position in shares of Cortexyme in the 2nd quarter valued at approximately $349,000. Landscape Capital Management L.L.C. bought a new stake in Cortexyme in the 2nd quarter valued at approximately $535,000. Finally, Northern Trust Corp bought a new stake in Cortexyme in the 2nd quarter valued at approximately $991,000. Hedge funds and other institutional investors own 1.17% of the company’s stock.

Shares of Cortexyme stock traded down $0.83 during trading hours on Monday, reaching $26.15. The stock had a trading volume of 26,963 shares, compared to its average volume of 97,839. The company’s 50 day simple moving average is $35.83. Cortexyme has a twelve month low of $19.50 and a twelve month high of $47.50.

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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