Ascendiant Capital Markets Cuts Alzamend Neuro (NASDAQ:ALZN) Price Target to $35.00

Alzamend Neuro (NASDAQ:ALZN) had its target price decreased by Ascendiant Capital Markets from $50.00 to $35.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Alzamend Neuro Stock Down 0.7 %

NASDAQ ALZN opened at $1.49 on Monday. The stock has a 50-day moving average of $1.74 and a two-hundred day moving average of $3.55. Alzamend Neuro has a 1-year low of $1.40 and a 1-year high of $19.20.

Alzamend Neuro (NASDAQ:ALZN) last released its earnings results on Wednesday, September 11th. The company reported ($1.25) earnings per share for the quarter, beating the consensus estimate of ($2.38) by $1.13. On average, sell-side analysts forecast that Alzamend Neuro will post -14.27 EPS for the current year.

Hedge Funds Weigh In On Alzamend Neuro

A hedge fund recently bought a new stake in Alzamend Neuro stock. Virtu Financial LLC acquired a new position in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 26,482 shares of the company’s stock, valued at approximately $26,000. Virtu Financial LLC owned approximately 0.38% of Alzamend Neuro as of its most recent filing with the Securities & Exchange Commission. 49.61% of the stock is currently owned by hedge funds and other institutional investors.

About Alzamend Neuro

Alzamend Neuro, Inc, an early clinical-stage biopharmaceutical company, focuses on developing various products for the treatment of neurodegenerative and psychiatric disorders. The company's pipeline includes AL001, which delivers a therapeutic combination of lithium, proline, and salicylate for the treatment of Alzheimer's, bi-polar disorder, post-traumatic stress disorder, major depressive disorder, other neurodegenerative diseases, and psychiatric disorders; and ALZN002 stage, which uses a method using a mutant-peptide sensitized cell as a cell-based therapeutic vaccine to restore the ability of a patient's immunological system to combat Alzheimer's disease.