CNS Pharmaceuticals (NASDAQ:CNSP) Posts Quarterly Earnings Results

CNS Pharmaceuticals (NASDAQ:CNSP) posted its earnings results on Friday. The company reported ($5.76) earnings per share for the quarter, Zacks reports.

CNS Pharmaceuticals Stock Up 7.0%

NASDAQ:CNSP traded up $0.45 during trading hours on Friday, reaching $6.90. The company had a trading volume of 10,112 shares, compared to its average volume of 18,341. The firm has a market capitalization of $3.93 million, a PE ratio of -0.04 and a beta of 2.70. The stock has a 50-day moving average of $8.23 and a two-hundred day moving average of $9.44. CNS Pharmaceuticals has a one year low of $4.93 and a one year high of $114.00.

Institutional Trading of CNS Pharmaceuticals

A hedge fund recently bought a new stake in CNS Pharmaceuticals stock. Armistice Capital LLC bought a new position in shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 406,000 shares of the company’s stock, valued at approximately $335,000. Armistice Capital LLC owned approximately 90.22% of CNS Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 14.02% of the company’s stock.

Analyst Ratings Changes

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

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.