Cyclerion Therapeutics (NASDAQ:KRSA) Now Covered by Analysts at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company began coverage on shares of Cyclerion Therapeutics (NASDAQ:KRSA) in a report released on Friday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $44.00 price target on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 40.66% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Cyclerion Therapeutics to a “sell” rating in a research note on Saturday, October 3rd. Guggenheim started coverage on shares of Cyclerion Therapeutics in a research report on Monday, September 28th. They issued a “buy” rating and a $70.00 price target for the company. Zacks Research raised shares of Cyclerion Therapeutics to a “hold” rating in a research note on Wednesday, September 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research note on Friday, July 24th. Finally, TD Cowen initiated coverage on shares of Cyclerion Therapeutics in a research report on Monday, September 14th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.20.

Cyclerion Therapeutics Stock Performance

NASDAQ KRSA opened at $31.28 on Friday. Cyclerion Therapeutics has a 52 week low of $7.19 and a 52 week high of $59.36. The stock has a 50-day moving average of $32.08.

Cyclerion Therapeutics (NASDAQ:KRSA) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($3.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($50.40) by $47.21. On average, equities analysts predict that Cyclerion Therapeutics will post -5.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Cyclerion Therapeutics

A number of hedge funds have recently made changes to their positions in the business. ADAR1 Capital Management LLC purchased a new stake in shares of Cyclerion Therapeutics during the second quarter worth about $1,013,000. Braidwell LP bought a new stake in Cyclerion Therapeutics during the 2nd quarter valued at approximately $532,000. Finally, BlackRock Inc. bought a new stake in Cyclerion Therapeutics during the 2nd quarter valued at approximately $57,000. Institutional investors own 75.62% of the company’s stock.

About Cyclerion Therapeutics

Cyclerion Therapeutics, Inc. was a clinical-stage biopharmaceutical company focused on developing medicines for serious central nervous system and cardiopulmonary diseases. The company’s research centered on soluble guanylate cyclase (sGC) stimulators, a class of compounds intended to regulate cellular signaling and potentially address diseases associated with impaired nitric oxide signaling. Cyclerion was formed in 2019 as a spin-off from Ironwood Pharmaceuticals. Its historical development portfolio included olinciguat, an investigational treatment studied for sickle cell disease, and praliciguat, which was evaluated for conditions including diabetic nephropathy and nonalcoholic steatohepatitis.