CNS Pharmaceuticals (NASDAQ:CNSP) Announces Earnings Results

CNS Pharmaceuticals (NASDAQ:CNSP) posted its earnings results on Friday. The company reported ($5.76) earnings per share (EPS) for the quarter, Zacks reports.

CNS Pharmaceuticals Stock Up 7.0%

CNS Pharmaceuticals stock traded up $0.45 during midday trading on Friday, reaching $6.90. 10,112 shares of the stock traded hands, compared to its average volume of 18,341. CNS Pharmaceuticals has a 12 month low of $4.93 and a 12 month high of $114.00. The stock’s fifty day moving average is $8.23 and its 200-day moving average is $9.42. The stock has a market cap of $3.93 million, a P/E ratio of -0.04 and a beta of 2.70.

Institutional Trading of CNS Pharmaceuticals

An institutional investor recently bought a new position in CNS Pharmaceuticals stock. Armistice Capital LLC purchased a new position in CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 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. 14.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CNSP shares. Maxim Group raised shares of CNS Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Friday, September 12th. Wall Street Zen lowered CNS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, September 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of CNS Pharmaceuticals in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.00.

About CNS Pharmaceuticals

CNS Pharmaceuticals, Inc, a clinical pharmaceutical company, engages in the development of anti-cancer drug candidates for the treatment of brain and central nervous system tumors. The company's lead drug candidate is Berubicin, which completed Phase I clinical trial that is used for the treatment of glioblastoma multiforme.