Cyclerion Therapeutics (NASDAQ:KRSA) Now Covered by Wells Fargo & Company

Investment analysts at Wells Fargo & Company initiated coverage on shares of Cyclerion Therapeutics (NASDAQ:KRSA) in a note issued to investors on Friday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $44.00 price target on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 40.66% from the stock’s previous close.

Several other brokerages have also recently issued reports on KRSA. Stifel Nicolaus assumed coverage on shares of Cyclerion Therapeutics in a report on Monday, September 14th. They issued a “buy” rating and a $43.00 target price on the stock. Guggenheim started coverage on shares of Cyclerion Therapeutics in a research note on Monday, September 28th. They set a “buy” rating and a $70.00 target price for the company. Zacks Research upgraded shares of Cyclerion Therapeutics to a “hold” rating in a research note on Wednesday, September 9th. UBS Group started coverage on Cyclerion Therapeutics in a report on Friday, September 11th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Wedbush began coverage on Cyclerion Therapeutics in a research note on Monday, October 5th. They issued an “outperform” rating and a $44.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.20.

Cyclerion Therapeutics Trading Down 1.8%

KRSA opened at $31.28 on Friday. The company’s 50-day moving average is $32.08. Cyclerion Therapeutics has a 52-week low of $7.19 and a 52-week high of $59.36.

Cyclerion Therapeutics (NASDAQ:KRSA) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($3.19) EPS for the quarter, topping analysts’ consensus estimates of ($50.40) by $47.21. As a group, analysts expect that Cyclerion Therapeutics will post -5.35 EPS for the current year.

Institutional Trading of Cyclerion Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRSA. ADAR1 Capital Management LLC purchased a new position in shares of Cyclerion Therapeutics during the 2nd quarter worth $1,013,000. Braidwell LP bought a new stake in shares of Cyclerion Therapeutics during the 2nd quarter valued at $532,000. Finally, BlackRock Inc. bought a new stake in shares of Cyclerion Therapeutics during the 2nd quarter valued at $57,000. 75.62% of the stock is owned by hedge funds and other institutional investors.

Cyclerion Therapeutics Company Profile

Cyclerion Therapeutics, Inc. was a clinical-stage biopharmaceutical company focused on developing medicines for serious central nervous system and cardiopulmonary diseases. The company’s research centered on soluble guanylate cyclase (sGC) stimulators, a class of compounds intended to regulate cellular signaling and potentially address diseases associated with impaired nitric oxide signaling. Cyclerion was formed in 2019 as a spin-off from Ironwood Pharmaceuticals. Its historical development portfolio included olinciguat, an investigational treatment studied for sickle cell disease, and praliciguat, which was evaluated for conditions including diabetic nephropathy and nonalcoholic steatohepatitis.