Ascendiant Capital Markets Cuts Alzamend Neuro (NASDAQ:ALZN) Price Target to $28.00

Alzamend Neuro (NASDAQ:ALZN) had its price objective lowered by analysts at Ascendiant Capital Markets from $42.00 to $28.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Alzamend Neuro in a report on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Alzamend Neuro currently has an average rating of “Hold” and an average target price of $28.00.

Alzamend Neuro Price Performance

Alzamend Neuro stock opened at $2.11 on Monday. The business has a 50 day moving average of $2.28 and a 200-day moving average of $2.55. The company has a market capitalization of $8.02 million, a P/E ratio of -0.64 and a beta of -0.25. Alzamend Neuro has a 1 year low of $1.88 and a 1 year high of $11.70.

Alzamend Neuro (NASDAQ:ALZN) last posted its earnings results on Tuesday, December 9th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.53. Equities analysts anticipate that Alzamend Neuro will post -1.68 EPS for the current year.

Insider Activity

In other news, Director Milton C. Ault III sold 101,394 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $2.44, for a total value of $247,401.36. Following the sale, the director directly owned 28,657 shares of the company’s stock, valued at approximately $69,923.08. This represents a 77.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 561,233 shares of company stock valued at $1,346,437. 30.21% of the stock is currently owned by insiders.

About Alzamend Neuro

Alzamend Neuro, Inc, an early clinical-stage biopharmaceutical company, focuses on developing various products for the treatment of neurodegenerative and psychiatric disorders. The company's pipeline includes AL001, which delivers a therapeutic combination of lithium, proline, and salicylate for the treatment of Alzheimer's, bi-polar disorder, post-traumatic stress disorder, major depressive disorder, other neurodegenerative diseases, and psychiatric disorders; and ALZN002 stage, which uses a method using a mutant-peptide sensitized cell as a cell-based therapeutic vaccine to restore the ability of a patient's immunological system to combat Alzheimer's disease.