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

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

Cyclerion Therapeutics Price Performance

NASDAQ:KRSA traded up $0.62 during mid-day trading on Friday, hitting $31.05. 65,598 shares of the stock were exchanged, compared to its average volume of 154,760. The stock has a market cap of $1.41 billion, a PE ratio of -2.44 and a beta of 1.85. The stock’s 50-day moving average price is $32.16. Cyclerion Therapeutics has a fifty-two week low of $7.19 and a fifty-two week high of $59.36.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group initiated coverage on Cyclerion Therapeutics in a research note on Friday, September 11th. They issued a “buy” rating and a $55.00 price target on the stock. Wall Street Zen raised shares of Cyclerion Therapeutics to a “sell” rating in a research report on Saturday, October 3rd. Wedbush started coverage on shares of Cyclerion Therapeutics in a research report on Monday, October 5th. They set an “outperform” rating and a $44.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Cyclerion Therapeutics in a report on Monday, September 14th. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, Guggenheim began coverage on shares of Cyclerion Therapeutics in a report on Monday, September 28th. They issued a “buy” rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.00.

Cyclerion Therapeutics Company Profile

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.