Cyclerion Therapeutics (NASDAQ:CYCN) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Cyclerion Therapeutics (NASDAQ:CYCN) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. They currently have $1.75 target price on the stock.

According to Zacks, “Cyclerion Therapeutics Inc. is a clinical-stage biopharmaceutical company harnessing the power of sGC pharmacology to discover, develop and commercialize breakthrough treatments for serious and orphan diseases. The company’s product pipeline consists of Olinciguat, Praliciguat and IW-6463 which are in clinical stage. Cyclerion Therapeutics Inc. is based in Cambridge, United States. “

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald began coverage on Cyclerion Therapeutics in a report on Friday, September 24th. They issued an overweight rating and a $7.00 price objective for the company. Truist began coverage on Cyclerion Therapeutics in a report on Wednesday, October 20th. They issued a buy rating and a $14.00 price objective for the company. Finally, Truist Securities began coverage on Cyclerion Therapeutics in a report on Wednesday, October 20th. They issued a buy rating and a $14.00 price objective for the company.

Shares of CYCN stock opened at $1.39 on Wednesday. Cyclerion Therapeutics has a 1-year low of $1.35 and a 1-year high of $6.90. The stock’s fifty day moving average price is $1.98 and its 200 day moving average price is $2.75.

Cyclerion Therapeutics (NASDAQ:CYCN) last announced its earnings results on Tuesday, November 9th. The company reported ($0.26) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.09. The firm had revenue of $0.35 million for the quarter, compared to the consensus estimate of $3.00 million. Cyclerion Therapeutics had a negative return on equity of 104.73% and a negative net margin of 1,696.27%. On average, equities research analysts forecast that Cyclerion Therapeutics will post -1.38 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in Cyclerion Therapeutics by 6.2% in the 3rd quarter. Morgan Stanley now owns 74,508 shares of the company’s stock worth $229,000 after purchasing an additional 4,353 shares during the period. XTX Topco Ltd raised its holdings in Cyclerion Therapeutics by 34.4% in the 2nd quarter. XTX Topco Ltd now owns 17,968 shares of the company’s stock worth $70,000 after purchasing an additional 4,603 shares during the period. Goldman Sachs Group Inc. raised its holdings in Cyclerion Therapeutics by 20.9% in the 3rd quarter. Goldman Sachs Group Inc. now owns 43,903 shares of the company’s stock worth $135,000 after purchasing an additional 7,586 shares during the period. Jane Street Group LLC acquired a new position in shares of Cyclerion Therapeutics during the third quarter valued at approximately $51,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Cyclerion Therapeutics during the second quarter valued at approximately $67,000. 57.01% of the stock is owned by institutional investors.

Cyclerion Therapeutics Company Profile

Cyclerion Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery, development, and commercialization of treatments for serious and orphan diseases, through the use of soluble guanylate cyclase (sGC) pharmacology. Its product pipeline includes several sGC stimulators, a small molecules that act synergistically with nitric oxide on sGC to boost production of cyclic guanosine monophosphate (cGMP).

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