Ascendiant Capital Markets Lowers Alzamend Neuro (NASDAQ:ALZN) Price Target to $20.00

Alzamend Neuro (NASDAQ:ALZN) had its price objective cut by equities researchers at Ascendiant Capital Markets from $32.00 to $20.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Alzamend Neuro Stock Down 1.8 %

Shares of ALZN stock opened at $0.68 on Monday. Alzamend Neuro has a 52 week low of $0.64 and a 52 week high of $15.06. The company has a 50-day simple moving average of $1.02 and a 200 day simple moving average of $1.36.

Alzamend Neuro (NASDAQ:ALZN) last posted its earnings results on Monday, March 10th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.10. Equities research analysts predict that Alzamend Neuro will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Alzamend Neuro

A hedge fund recently bought a new stake in Alzamend Neuro stock. Geode Capital Management LLC acquired a new position in Alzamend Neuro, Inc. (NASDAQ:ALZN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 33,540 shares of the company’s stock, valued at approximately $39,000. Geode Capital Management LLC owned approximately 0.62% of Alzamend Neuro as of its most recent SEC filing. 49.61% of the stock is currently owned by hedge funds and other institutional investors.

Alzamend Neuro Company Profile

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.