Cyclerion Therapeutics (NASDAQ:KRSA) Posts Quarterly Earnings Results, Beats Estimates By $47.21 EPS

Cyclerion Therapeutics (NASDAQ:KRSA) posted its earnings results on Thursday. The company reported ($3.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($50.40) by $47.21, Zacks reports.

Cyclerion Therapeutics Price Performance

Shares of NASDAQ:KRSA traded up $0.62 during trading on Friday, reaching $31.05. The stock had a trading volume of 65,598 shares, compared to its average volume of 154,760. The stock has a fifty day moving average of $32.16. Cyclerion Therapeutics has a 1-year low of $7.19 and a 1-year high of $59.36.

Analysts Set New Price Targets

A number of research analysts have weighed in on KRSA shares. UBS Group began coverage on shares of Cyclerion Therapeutics in a research report on Friday, September 11th. They issued a “buy” rating and a $55.00 price objective for the company. Guggenheim started coverage on Cyclerion Therapeutics in a research note on Monday, September 28th. They issued a “buy” rating and a $70.00 price target for the company. TD Cowen started coverage on Cyclerion Therapeutics in a research report on Monday, September 14th. They set a “buy” rating on the stock. Wedbush assumed coverage on Cyclerion Therapeutics in a report on Monday, October 5th. They issued an “outperform” rating and a $44.00 price objective on the stock. Finally, Zacks Research upgraded Cyclerion Therapeutics to a “hold” rating in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cyclerion Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Cyclerion Therapeutics Company Profile

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.