Ascendiant Capital Markets Forecasts Strong Price Appreciation for Alzamend Neuro (NASDAQ:ALZN) Stock

Alzamend Neuro (NASDAQ:ALZN) had its price objective upped by research analysts at Ascendiant Capital Markets from $25.00 to $26.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Separately, Weiss Ratings downgraded Alzamend Neuro from a “sell (e+)” rating to a “sell (e)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Alzamend Neuro currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Alzamend Neuro Trading Down 3.8%

Shares of ALZN stock opened at $1.52 on Wednesday. The firm has a fifty day simple moving average of $1.29 and a 200-day simple moving average of $1.40. The company has a market capitalization of $7.28 million, a PE ratio of -0.52 and a beta of 0.16. Alzamend Neuro has a twelve month low of $0.84 and a twelve month high of $2.68.

Alzamend Neuro (NASDAQ:ALZN) last released its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.07). Equities research analysts predict that Alzamend Neuro will post -2.6 EPS for the current year.

Hedge Funds Weigh In On Alzamend Neuro

A hedge fund recently raised its position in Alzamend Neuro stock. Geode Capital Management LLC increased its stake in Alzamend Neuro, Inc. (NASDAQ:ALZN) by 33.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,506 shares of the company’s stock after buying an additional 6,928 shares during the period. Geode Capital Management LLC owned about 0.72% of Alzamend Neuro worth $50,000 at the end of the most recent reporting period. Institutional investors own 49.61% of the company’s stock.

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.