CNS Pharmaceuticals (NASDAQ:CNSP) Trading 3.3% Higher – Should You Buy?

CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) shares traded up 3.3% during trading on Tuesday . The stock traded as high as $7.51 and last traded at $7.27. 31,185 shares traded hands during trading, a decline of 55% from the average session volume of 69,541 shares. The stock had previously closed at $7.04.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CNS Pharmaceuticals in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.00.

CNS Pharmaceuticals Trading Up 3.3%

The stock has a fifty day simple moving average of $6.51 and a 200-day simple moving average of $7.51. The stock has a market cap of $4.51 million, a price-to-earnings ratio of -0.23 and a beta of 2.69.

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

Hedge Funds Weigh In On CNS Pharmaceuticals

An institutional investor recently bought a new position in CNS Pharmaceuticals stock. Armistice Capital LLC acquired a new position in shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 406,000 shares of the company’s stock, valued at approximately $335,000. Armistice Capital LLC owned approximately 90.22% of CNS Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 14.02% of the company’s stock.

About CNS Pharmaceuticals

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.