CNS Pharmaceuticals (NASDAQ:CNSP) Stock Price Down 0.5% – Should You Sell?

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP)’s share price dropped 0.5% during mid-day trading on Friday . The company traded as low as $5.91 and last traded at $6.17. Approximately 27,448 shares were traded during mid-day trading, an increase of 59% from the average daily volume of 17,289 shares. The stock had previously closed at $6.20.

Analysts Set New Price Targets

A number of brokerages have commented on CNSP. Weiss Ratings reissued a “sell (e+)” rating on shares of CNS Pharmaceuticals in a research report on Wednesday, October 8th. Maxim Group upgraded shares of CNS Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, September 12th. Finally, Wall Street Zen lowered CNS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.00.

CNS Pharmaceuticals Trading Down 0.5%

The firm’s fifty day moving average price is $7.07 and its 200-day moving average price is $8.03. The firm has a market cap of $3.83 million, a price-to-earnings ratio of -0.20 and a beta of 2.62.

CNS Pharmaceuticals (NASDAQ:CNSP) last announced its quarterly earnings results on Friday, November 14th. The company reported ($5.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.63) by $0.87.

Institutional Trading of CNS Pharmaceuticals

An institutional investor recently bought a new position in CNS Pharmaceuticals stock. Armistice Capital LLC purchased a new position in shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 406,000 shares of the company’s stock, valued at approximately $335,000. Armistice Capital LLC owned 90.22% of CNS Pharmaceuticals as of its most recent SEC filing. 14.02% of the stock is currently owned by hedge funds and other institutional investors.

CNS Pharmaceuticals Company Profile

CNS Pharmaceuticals, Inc, headquartered in Houston, Texas, is a clinical-stage biopharmaceutical company focused on developing therapies for aggressive central nervous system tumors. The company’s lead candidate, berubicin, is an anthracycline derivative engineered to cross the blood-brain barrier for the treatment of glioblastoma multiforme and other brain cancers. In addition to berubicin, CNS Pharmaceuticals is advancing WP1066, an immunotherapy agent designed to inhibit the STAT3 signaling pathway and enhance anti-tumor immune activity in the tumor microenvironment.

Berubicin has completed a Phase 1 clinical trial in patients with recurrent glioblastoma, where it demonstrated proof-of-concept signals, and is currently in Phase 2 development.