CNS Pharmaceuticals (NASDAQ:CNSP) Trading 2% Higher – Should You Buy?

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP)’s share price shot up 2% during mid-day trading on Wednesday . The stock traded as high as $6.01 and last traded at $6.01. 19,666 shares traded hands during mid-day trading, an increase of 159% from the average session volume of 7,586 shares. The stock had previously closed at $5.89.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CNS Pharmaceuticals in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.00.

CNS Pharmaceuticals Stock Down 2.0%

The company has a fifty day moving average price of $5.30 and a 200-day moving average price of $4.26. The stock has a market capitalization of $8.60 million, a P/E ratio of -0.25 and a beta of 3.06.

CNS Pharmaceuticals (NASDAQ:CNSP) last posted its earnings results on Wednesday, August 12th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.14).

Hedge Funds Weigh In On CNS Pharmaceuticals

Large investors have recently modified their holdings of the stock. Boothbay Fund Management LLC bought a new stake in CNS Pharmaceuticals in the fourth quarter worth $71,000. Stonepine Capital Management LLC bought a new position in CNS Pharmaceuticals during the second quarter valued at $198,719. Ikarian Capital LLC purchased a new stake in shares of CNS Pharmaceuticals in the fourth quarter valued at $241,000. Armistice Capital LLC purchased a new stake in shares of CNS Pharmaceuticals in the second quarter valued at $335,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of CNS Pharmaceuticals in the 2nd quarter worth about $335,000. Institutional investors own 14.02% of the company’s stock.

CNS Pharmaceuticals Company Profile

CNS Pharmaceuticals, Inc, headquartered in Houston, Texas, is a clinical-stage biopharmaceutical company focused on developing therapies for aggressive central nervous system tumors. The company’s lead candidate, berubicin, is an anthracycline derivative engineered to cross the blood-brain barrier for the treatment of glioblastoma multiforme and other brain cancers. In addition to berubicin, CNS Pharmaceuticals is advancing WP1066, an immunotherapy agent designed to inhibit the STAT3 signaling pathway and enhance anti-tumor immune activity in the tumor microenvironment.

Berubicin has completed a Phase 1 clinical trial in patients with recurrent glioblastoma, where it demonstrated proof-of-concept signals, and is currently in Phase 2 development.