Neurotrope (NASDAQ:NTRP) was downgraded by investment analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, MarketBeat.com reports. They currently have a $1.00 target price on the stock, down from their previous target price of $13.00. Janney Montgomery Scott’s price target indicates a potential upside of 13.64% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Neurotrope from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a report on Wednesday, August 21st. ValuEngine raised Neurotrope from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Maxim Group downgraded Neurotrope from a “buy” rating to a “hold” rating in a report on Monday.

Shares of NASDAQ NTRP traded down $0.02 during mid-day trading on Wednesday, hitting $0.88. 5,615 shares of the stock traded hands, compared to its average volume of 459,551. Neurotrope has a twelve month low of $0.81 and a twelve month high of $9.38. The company has a market cap of $11.98 million, a PE ratio of -0.66 and a beta of 2.41. The firm has a 50 day simple moving average of $5.08 and a two-hundred day simple moving average of $5.91.

A number of institutional investors and hedge funds have recently made changes to their positions in NTRP. MYDA Advisors LLC acquired a new position in Neurotrope during the 1st quarter worth about $690,000. Cannell Peter B & Co. Inc. lifted its holdings in Neurotrope by 7.5% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 229,481 shares of the company’s stock worth $1,840,000 after buying an additional 16,100 shares during the period. NorthRock Partners LLC raised its position in shares of Neurotrope by 45.5% in the 2nd quarter. NorthRock Partners LLC now owns 104,000 shares of the company’s stock worth $834,000 after acquiring an additional 32,500 shares in the last quarter. BlackRock Inc. raised its position in shares of Neurotrope by 144.3% in the 2nd quarter. BlackRock Inc. now owns 60,041 shares of the company’s stock worth $482,000 after acquiring an additional 35,464 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Neurotrope by 21.7% in the 2nd quarter. Vanguard Group Inc. now owns 266,735 shares of the company’s stock worth $2,139,000 after acquiring an additional 47,609 shares in the last quarter. 15.00% of the stock is currently owned by hedge funds and other institutional investors.

About Neurotrope

Neurotrope, Inc, a biopharmaceutical company, focuses on the development of a product platform for the treatment of Alzheimer's disease. 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 syndrome, multiple sclerosis, and niemann-pick type C diseases.

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