Neurotrope (NASDAQ:NTRP) Downgraded by Janney Montgomery Scott

Neurotrope (NASDAQ:NTRP) was downgraded by investment analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports.

Several other analysts also recently issued reports on NTRP. ValuEngine raised shares of Neurotrope from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Neurotrope from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Wednesday, August 21st. Finally, Maxim Group downgraded Neurotrope from a “buy” rating to a “hold” rating in a research report on Monday.

NASDAQ:NTRP traded down $0.01 during mid-day trading on Wednesday, hitting $0.91. 867,928 shares of the company’s stock traded hands, compared to its average volume of 132,961. The firm’s 50 day simple moving average is $5.17 and its 200 day simple moving average is $5.93. Neurotrope has a 1 year low of $0.81 and a 1 year high of $9.38. The company has a market cap of $13.02 million, a PE ratio of -0.66 and a beta of 2.41.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley grew its position in Neurotrope by 46.7% during the second quarter. Morgan Stanley now owns 20,402 shares of the company’s stock valued at $164,000 after acquiring an additional 6,490 shares during the period. BlackRock Inc. lifted its stake in shares of Neurotrope by 144.3% during the second quarter. BlackRock Inc. now owns 60,041 shares of the company’s stock worth $482,000 after purchasing an additional 35,464 shares in the last quarter. MYDA Advisors LLC acquired a new position in shares of Neurotrope during the first quarter worth about $690,000. NorthRock Partners LLC boosted its position in shares of Neurotrope by 45.5% in the second quarter. NorthRock Partners LLC now owns 104,000 shares of the company’s stock worth $834,000 after buying an additional 32,500 shares during the period. Finally, Cannell Peter B & Co. Inc. boosted its position in shares of Neurotrope by 7.5% in the second quarter. Cannell Peter B & Co. Inc. now owns 229,481 shares of the company’s stock worth $1,840,000 after buying an additional 16,100 shares during the period. 15.00% of the stock is currently owned by institutional investors and hedge funds.

Neurotrope Company Profile

Neurotrope, Inc, a biopharmaceutical company, focuses on the development of a product platform for the treatment of Alzheimer's disease. Its lead product candidate is bryostatin, a natural product isolated from a marine invertebrate organism, a bryozoan called Bugula neritina. The company also develops bryostatin for other neurodegenerative or cognitive diseases and dysfunctions, such as Fragile X syndrome, multiple sclerosis, and niemann-pick type C diseases.

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