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

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

Analysts have set a 12-month consensus price objective of $41.00 for the company, according to Zacks. Zacks has also given Cortexyme an industry rank of 53 out of 256 based on the ratings given to its competitors.

A number of research analysts have recently commented on CRTX shares. 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 target price for the company. Credit Suisse Group dropped their target price on shares of FOX from $51.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Bank of America reissued a “buy” rating and issued a $25.00 target price on shares of Infineon Technologies in a report on Monday, June 3rd. Finally, Canaccord Genuity increased their target price on shares of B2Gold from C$5.25 to C$5.75 in a report on Monday, June 3rd.

Cortexyme stock traded down $0.44 during trading hours on Friday, reaching $41.30. 51,532 shares of the stock were exchanged, compared to its average volume of 109,918. Cortexyme has a twelve month low of $19.50 and a twelve month high of $47.50. The stock has a 50 day moving average price of $33.26.

In related news, major shareholder Pfizer Inc bought 50,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $17.00 per share, with a total value of $850,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.40% of the stock is currently owned by corporate insiders.

Cortexyme Company Profile

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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