Neurotrope (NASDAQ:NTRP)‘s stock had its “buy” rating reiterated by analysts at Maxim Group in a research report issued to clients and investors on Tuesday, February 5th. They presently have a $16.00 price objective on the stock. Maxim Group’s price objective suggests a potential upside of 245.57% from the company’s current price.
The analysts wrote, “Neurotrope announced that it has entered into a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) for the development of Bryostatin-1 in acute lymphoblastic leukemia (ALL).””
NASDAQ:NTRP traded down $0.23 during trading hours on Tuesday, hitting $4.63. 50,819 shares of the company were exchanged, compared to its average volume of 65,731. Neurotrope has a one year low of $3.33 and a one year high of $11.93.
Several institutional investors and hedge funds have recently modified their holdings of the company. Raymond James & Associates acquired a new stake in shares of Neurotrope in the 4th quarter valued at about $42,000. Eaton Vance Management acquired a new position in Neurotrope during the 4th quarter valued at about $164,000. Renaissance Technologies LLC boosted its stake in Neurotrope by 72.4% during the 3rd quarter. Renaissance Technologies LLC now owns 50,000 shares of the company’s stock valued at $441,000 after purchasing an additional 21,000 shares during the last quarter. Pathstone Family Office LLC acquired a new position in Neurotrope during the 3rd quarter valued at about $270,000. Finally, Cannell Peter B & Co. Inc. boosted its stake in Neurotrope by 3.7% during the 3rd quarter. Cannell Peter B & Co. Inc. now owns 280,793 shares of the company’s stock valued at $2,474,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors own 17.70% of the company’s stock.
Neurotrope Company Profile
Neurotrope, Inc, a biopharmaceutical company, focuses on the development of a product platform for the treatment of Alzheimer's disease (AD). 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 and Niemann-Pick Type C.
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