Cynapsus Therapeutic Given Outperform Rating at Zacks (CYNAF)
Cynapsus Therapeutic (NASDAQ:CYNAF)‘s stock had its “outperform” rating restated by Zacks in a research report issued on Wednesday. They currently have a $2.25 target price on the stock. Zacks‘s price target suggests a potential upside of 312.84% from the stock’s previous close.
Zacks’ analyst wrote, “Little known Toronto, Canada-based Cynapsus Therapeutics is one of our best ideas for investment in the small-cap biotechnology sector. The company currently trades with a market capitalization of only $75 million, yet sits on a potential $750 million drug for the treatment of Parkinson’s disease. The leading drug is APL-130277, a sublingual formulation of apomorphine, designed as a rescue medication for patients experiencing “off” time in-between their daily levodopa dosing. We like Cynapsus because the costs and risks to develop APL-130277 are low, and the exit strategy is clear – develop APL-130277 to the point where a new drug application (NDA) can be filed, and then sell the company to a larger pharmaceutical looking to commercial. Based on the data and market research that we have seen, Cynapsus shares offer a potential six-fold increase in returns.”
Shares of Cynapsus Therapeutic (NASDAQ:CYNAF) traded down 1.83% on Wednesday, hitting $0.535. 148,955 shares of the company’s stock traded hands. Cynapsus Therapeutic has a one year low of $0.33 and a one year high of $1.39. The stock has a 50-day moving average of $0.5 and a 200-day moving average of $0.71. The company’s market cap is $42.1 million.
To view Zacks’ full report, visit Zacks’ official website.
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