Ascendiant Capital Markets Lowers Alzamend Neuro (NASDAQ:ALZN) Price Target to $28.00

Alzamend Neuro (NASDAQ:ALZN) had its target price decreased by analysts at Ascendiant Capital Markets from $42.00 to $28.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of Alzamend Neuro in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Alzamend Neuro presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Alzamend Neuro Stock Down 2.4%

Alzamend Neuro stock opened at $2.05 on Monday. The stock has a 50-day simple moving average of $2.27 and a 200 day simple moving average of $2.52. The stock has a market capitalization of $7.79 million, a price-to-earnings ratio of -0.62 and a beta of -0.25. Alzamend Neuro has a 12-month low of $1.88 and a 12-month high of $11.70.

Alzamend Neuro (NASDAQ:ALZN) last issued its quarterly earnings data on Tuesday, December 9th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.53. As a group, sell-side analysts anticipate that Alzamend Neuro will post -1.68 EPS for the current year.

Insider Activity

In other news, Director Milton C. Ault III sold 101,394 shares of Alzamend Neuro stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $2.44, for a total transaction of $247,401.36. Following the completion of the sale, the director owned 28,657 shares in the company, valued at $69,923.08. The trade was a 77.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 482,188 shares of company stock valued at $1,160,183. 30.21% of the stock is currently owned by company insiders.

About Alzamend Neuro

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.