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

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

Brokerages have set a 1-year consensus price objective of $41.00 for the company, according to Zacks. Zacks has also assigned Cortexyme an industry rank of 86 out of 256 based on the ratings given to related companies.

CRTX has been the subject of a number of research reports. Credit Suisse Group assumed coverage on Cortexyme in a research report on Monday, June 3rd. They set an “underperform” rating and a $14.00 price target for the company. JMP Securities initiated coverage on Cortexyme in a research note on Monday, June 3rd. They issued a “mkt outperform” rating and a $53.00 price target for the company. Canaccord Genuity initiated coverage on Cortexyme in a report on Monday, June 3rd. They set a “buy” rating and a $42.00 target price on the stock. Finally, Bank of America initiated coverage on Cortexyme in a report on Monday, June 3rd. They set a “neutral” rating and a $28.00 target price on the stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. acquired a new position in Cortexyme in the second quarter valued at approximately $1,052,000. Landscape Capital Management L.L.C. acquired a new position in Cortexyme in the second quarter valued at approximately $535,000. Bank of New York Mellon Corp acquired a new position in Cortexyme in the second quarter valued at approximately $349,000. Wells Fargo & Company MN acquired a new position in Cortexyme in the second quarter valued at approximately $191,000. Finally, JPMorgan Chase & Co. acquired a new position in Cortexyme in the second quarter valued at approximately $78,000. Hedge funds and other institutional investors own 0.01% of the company’s stock.

CRTX traded up $1.76 during trading on Monday, hitting $29.45. 1,280 shares of the stock were exchanged, compared to its average volume of 73,332. The stock has a 50 day moving average price of $37.96. Cortexyme has a 1 year low of $19.50 and a 1 year high of $47.50.

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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