Shares of Cortexyme, Inc. (NASDAQ:CRTX) have been given a consensus broker rating score of 1.67 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company.

Brokerages have set a 1 year consensus price target of $41.67 for the company and are expecting that the company will post ($0.39) EPS for the current quarter, according to Zacks. Zacks has also given Cortexyme an industry rank of 80 out of 255 based on the ratings given to its competitors.

Separately, Zacks Investment Research raised Cortexyme from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Friday, January 3rd.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC raised its stake in Cortexyme by 70.0% during the third quarter. Millennium Management LLC now owns 21,239 shares of the biopharmaceutical company’s stock worth $529,000 after acquiring an additional 8,747 shares in the last quarter. State Street Corp boosted its position in shares of Cortexyme by 32.2% during the 3rd quarter. State Street Corp now owns 50,829 shares of the biopharmaceutical company’s stock valued at $1,267,000 after purchasing an additional 12,384 shares in the last quarter. Morgan Stanley bought a new stake in shares of Cortexyme during the 2nd quarter valued at about $1,970,000. Vanguard Group Inc. bought a new stake in shares of Cortexyme during the 2nd quarter valued at about $7,428,000. Finally, BlackRock Inc. bought a new stake in shares of Cortexyme during the 2nd quarter valued at about $5,926,000. 20.62% of the stock is owned by institutional investors and hedge funds.

CRTX stock opened at $49.16 on Tuesday. The company has a 50-day simple moving average of $43.81 and a 200 day simple moving average of $32.10. Cortexyme has a fifty-two week low of $19.35 and a fifty-two week high of $72.94.

Cortexyme (NASDAQ:CRTX) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, hitting the consensus estimate of ($0.37). On average, analysts anticipate that Cortexyme will post -1.51 EPS for the current fiscal year.

About Cortexyme

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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