Cortexyme, Inc. (NASDAQ:CRTX) Given Consensus Rating of “Buy” by Analysts

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

Brokerages have set a 12 month consensus price target of $41.00 for the company and are anticipating that the company will post ($0.64) EPS for the current quarter, according to Zacks. Zacks has also given Cortexyme an industry rank of 78 out of 256 based on the ratings given to its competitors.

Several research firms recently weighed in on CRTX. Credit Suisse Group began coverage on shares of Cortexyme in a research report on Monday, June 3rd. They set an “underperform” rating and a $14.00 price target for the company. Canaccord Genuity started coverage on shares of Cortexyme in a research report on Monday, June 3rd. They set a “buy” rating and a $42.00 price target for the company. JMP Securities started coverage on shares of Cortexyme in a report on Monday, June 3rd. They issued a “mkt outperform” rating and a $53.00 price objective for the company. Finally, Bank of America started coverage on shares of Cortexyme in a report on Monday, June 3rd. They issued a “neutral” rating and a $28.00 price objective for the company.

Shares of CRTX traded down $4.79 during mid-day trading on Wednesday, hitting $36.18. 108,817 shares of the company were exchanged, compared to its average volume of 80,890. Cortexyme has a 1-year low of $19.50 and a 1-year high of $47.50.

In other Cortexyme news, major shareholder Pfizer Inc acquired 50,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was bought at an average price of $17.00 per share, for a total transaction of $850,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 12.40% of the stock is currently owned by corporate insiders.

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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