CNS Pharmaceuticals (NASDAQ:CNSP) Trading 1.4% Higher – Here’s Why

Shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) rose 1.4% on Friday . The company traded as high as $6.94 and last traded at $6.60. Approximately 8,424 shares changed hands during trading, a decline of 35% from the average daily volume of 12,877 shares. The stock had previously closed at $6.51.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Maxim Group upgraded shares of CNS Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Friday, September 12th. Wall Street Zen lowered shares of CNS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of CNS Pharmaceuticals in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.00.

CNS Pharmaceuticals Stock Up 1.4%

The firm has a market capitalization of $4.09 million, a price-to-earnings ratio of -0.21 and a beta of 2.62. The company has a fifty day moving average price of $7.83 and a two-hundred day moving average price of $8.69.

CNS Pharmaceuticals (NASDAQ:CNSP) last issued its quarterly earnings results on Friday, November 14th. The company reported ($5.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($6.63) by $0.87.

Hedge Funds Weigh In On CNS Pharmaceuticals

A hedge fund recently bought a new stake in CNS Pharmaceuticals stock. Armistice Capital LLC acquired a new stake in shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 406,000 shares of the company’s stock, valued at approximately $335,000. Armistice Capital LLC owned about 90.22% of CNS Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors own 14.02% of the company’s stock.

About CNS Pharmaceuticals

CNS Pharmaceuticals, Inc, a clinical pharmaceutical company, engages in the development of anti-cancer drug candidates for the treatment of brain and central nervous system tumors. The company's lead drug candidate is Berubicin, which completed Phase I clinical trial that is used for the treatment of glioblastoma multiforme.