Brokerages Anticipate Cortexyme, Inc. (NASDAQ:CRTX) to Announce ($0.39) EPS
Cortexyme, Inc. (NASDAQ:CRTX) has received an average broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company.
Brokerages have set a 1-year consensus price objective of $41.67 for the company and are predicting that the company will post ($0.39) EPS for the current quarter, according to Zacks. Zacks has also assigned Cortexyme an industry rank of 57 out of 255 based on the ratings given to its competitors.
Separately, Zacks Investment Research downgraded shares of Cortexyme from a “buy” rating to a “hold” rating in a research report on Monday, October 14th.
Cortexyme (NASDAQ:CRTX) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.37). As a group, research analysts expect that Cortexyme will post -1.51 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Cortexyme in the second quarter valued at $5,926,000. Morgan Stanley purchased a new stake in Cortexyme in the 2nd quarter worth approximately $1,970,000. Vanguard Group Inc. purchased a new stake in Cortexyme in the 2nd quarter worth approximately $7,428,000. Wells Fargo & Company MN purchased a new stake in Cortexyme in the 2nd quarter worth approximately $191,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Cortexyme in the 2nd quarter worth approximately $1,052,000. Institutional investors own 20.62% of the company’s stock.
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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