Brokerages Set Cortexyme, Inc. (NASDAQ:CRTX) PT at $68.33

Cortexyme, Inc. (NASDAQ:CRTX) has earned a consensus rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $68.33.

CRTX has been the topic of a number of research reports. Jefferies Financial Group began coverage on Cortexyme in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $59.00 price objective on the stock. ValuEngine cut shares of Cortexyme from a “buy” rating to a “hold” rating in a research report on Friday, June 5th. HC Wainwright began coverage on shares of Cortexyme in a research report on Wednesday. They set a “buy” rating and a $76.00 price objective for the company. BidaskClub cut shares of Cortexyme from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Canaccord Genuity reissued a “buy” rating and set a $70.00 target price (up from $42.00) on shares of Cortexyme in a research note on Wednesday, May 13th.

In other news, insider Epiq Capital Group, Llc acquired 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $44.32 per share, with a total value of $292,512.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Lamond acquired 49,125 shares of the stock in a transaction on Thursday, June 4th. The shares were purchased at an average price of $41.73 per share, for a total transaction of $2,049,986.25. Following the completion of the transaction, the director now owns 301,829 shares in the company, valued at approximately $12,595,324.17. The disclosure for this purchase can be found here. Insiders purchased a total of 120,596 shares of company stock valued at $5,944,646 in the last quarter. 19.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC lifted its stake in Cortexyme by 1.8% in the 1st quarter. Nuveen Asset Management LLC now owns 45,389 shares of the biopharmaceutical company’s stock worth $2,070,000 after acquiring an additional 789 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Cortexyme by 109.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,665 shares of the biopharmaceutical company’s stock valued at $78,000 after purchasing an additional 869 shares during the period. Parallel Advisors LLC acquired a new position in shares of Cortexyme in the 1st quarter valued at about $43,000. Golden State Wealth Management LLC purchased a new stake in shares of Cortexyme in the first quarter worth approximately $46,000. Finally, Citigroup Inc. grew its position in Cortexyme by 50.0% during the first quarter. Citigroup Inc. now owns 3,470 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 1,157 shares in the last quarter. 27.43% of the stock is currently owned by hedge funds and other institutional investors.

CRTX stock opened at $47.15 on Wednesday. The firm’s 50-day moving average is $48.44 and its two-hundred day moving average is $48.14. The company has a market capitalization of $1.39 billion and a price-to-earnings ratio of -23.46. Cortexyme has a 52 week low of $19.35 and a 52 week high of $73.84.

Cortexyme (NASDAQ:CRTX) last announced its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.16). As a group, sell-side analysts anticipate that Cortexyme will post -2.57 EPS for the current year.

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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