Cyclerion Therapeutics (NASDAQ:KRSA) Posts Earnings Results, Beats Estimates By $47.21 EPS

Cyclerion Therapeutics (NASDAQ:KRSA) issued its quarterly earnings data on Thursday. The company reported ($3.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($50.40) by $47.21, Zacks reports.

Cyclerion Therapeutics Price Performance

Cyclerion Therapeutics stock traded up $0.62 during midday trading on Friday, reaching $31.05. The stock had a trading volume of 65,598 shares, compared to its average volume of 154,760. Cyclerion Therapeutics has a 12 month low of $7.19 and a 12 month high of $59.36. The company has a market cap of $1.41 billion, a P/E ratio of -2.44 and a beta of 1.85. The business has a fifty day moving average price of $32.16.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wedbush assumed coverage on shares of Cyclerion Therapeutics in a research report on Monday, October 5th. They set an “outperform” rating and a $44.00 target price for the company. Guggenheim began coverage on shares of Cyclerion Therapeutics in a research report on Monday, September 28th. They issued a “buy” rating and a $70.00 price target on the stock. UBS Group initiated coverage on shares of Cyclerion Therapeutics in a research note on Friday, September 11th. They issued a “buy” rating and a $55.00 price objective on the stock. Zacks Research upgraded shares of Cyclerion Therapeutics to a “hold” rating in a research report on Wednesday, September 9th. Finally, Stifel Nicolaus assumed coverage on shares of Cyclerion Therapeutics in a research note on Monday, September 14th. They set a “buy” rating and a $43.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cyclerion Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $53.00.

About Cyclerion Therapeutics

Cyclerion Therapeutics, Inc was a clinical-stage biopharmaceutical company focused on developing medicines for serious central nervous system and cardiopulmonary diseases. The company’s research centered on soluble guanylate cyclase (sGC) stimulators, a class of compounds intended to regulate cellular signaling and potentially address diseases associated with impaired nitric oxide signaling.

Cyclerion was formed in 2019 as a spin-off from Ironwood Pharmaceuticals. Its historical development portfolio included olinciguat, an investigational treatment studied for sickle cell disease, and praliciguat, which was evaluated for conditions including diabetic nephropathy and nonalcoholic steatohepatitis.