CNS Pharmaceuticals (NASDAQ:CNSP) Stock Price Up 2% – Time to Buy?

Shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) rose 2% during mid-day trading on Wednesday . The company traded as high as $6.01 and last traded at $6.01. Approximately 19,666 shares changed hands during trading, an increase of 159% from the average daily volume of 7,586 shares. The stock had previously closed at $5.89.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of CNS Pharmaceuticals in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.00.

CNS Pharmaceuticals Price Performance

The firm has a 50-day simple moving average of $5.26 and a 200 day simple moving average of $4.24. The stock has a market capitalization of $8.77 million, a P/E ratio of -0.25 and a beta of 3.06.

CNS Pharmaceuticals (NASDAQ:CNSP) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.14).

Institutional Investors Weigh In On CNS Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Boothbay Fund Management LLC bought a new position in CNS Pharmaceuticals during the fourth quarter worth $71,000. Stonepine Capital Management LLC acquired a new stake in CNS Pharmaceuticals during the 2nd quarter worth about $198,719. Ikarian Capital LLC acquired a new stake in CNS Pharmaceuticals during the 4th quarter worth about $241,000. ADAR1 Capital Management LLC bought a new position in shares of CNS Pharmaceuticals in the 2nd quarter worth about $335,000. Finally, Armistice Capital LLC bought a new position in shares of CNS Pharmaceuticals in the 2nd quarter worth about $335,000. 14.02% of the stock is owned by institutional investors.

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.