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

Alzamend Neuro (NASDAQ:ALZN) had its price target trimmed by Ascendiant Capital Markets from $32.00 to $20.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Alzamend Neuro Price Performance

NASDAQ:ALZN opened at $0.95 on Monday. The firm has a 50-day moving average of $1.00 and a two-hundred day moving average of $1.34. Alzamend Neuro has a 1-year low of $0.64 and a 1-year high of $15.06.

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

Hedge Funds Weigh In On Alzamend Neuro

An institutional investor recently bought a new position in Alzamend Neuro stock. Citadel Advisors LLC purchased a new position in shares of Alzamend Neuro, Inc. (NASDAQ:ALZN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 30,638 shares of the company’s stock, valued at approximately $36,000. Citadel Advisors LLC owned about 0.56% of Alzamend Neuro as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 49.61% of the company’s stock.

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.