Cyclerion Therapeutics (NASDAQ:CYCN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Cyclerion Therapeutics (NASDAQ:CYCN) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $1.75 price target on the stock.

According to Zacks, “Cyclerion Therapeutics Inc. is a clinical-stage biopharmaceutical company harnessing the power of sGC pharmacology to discover, develop and commercialize breakthrough treatments for serious and orphan diseases. The company’s product pipeline consists of Olinciguat, Praliciguat and IW-6463 which are in clinical stage. Cyclerion Therapeutics Inc. is based in Cambridge, United States. “

CYCN has been the subject of a number of other reports. Cantor Fitzgerald initiated coverage on shares of Cyclerion Therapeutics in a research report on Friday, September 24th. They set an overweight rating and a $7.00 price target for the company. Truist initiated coverage on shares of Cyclerion Therapeutics in a research report on Wednesday, October 20th. They set a buy rating and a $14.00 price target for the company. Finally, Truist Securities assumed coverage on shares of Cyclerion Therapeutics in a research report on Wednesday, October 20th. They set a buy rating and a $14.00 price target for the company.

Shares of CYCN opened at $1.39 on Wednesday. Cyclerion Therapeutics has a twelve month low of $1.35 and a twelve month high of $6.90. The stock’s 50 day moving average is $1.98 and its two-hundred day moving average is $2.75.

Cyclerion Therapeutics (NASDAQ:CYCN) last announced its quarterly earnings data on Tuesday, November 9th. The company reported ($0.26) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.09. Cyclerion Therapeutics had a negative return on equity of 104.73% and a negative net margin of 1,696.27%. The company had revenue of $0.35 million for the quarter, compared to analyst estimates of $3.00 million. Analysts expect that Cyclerion Therapeutics will post -1.38 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in Cyclerion Therapeutics in the 3rd quarter valued at $51,000. Cubist Systematic Strategies LLC acquired a new position in Cyclerion Therapeutics in the 2nd quarter valued at $67,000. XTX Topco Ltd raised its holdings in Cyclerion Therapeutics by 34.4% in the 2nd quarter. XTX Topco Ltd now owns 17,968 shares of the company’s stock valued at $70,000 after acquiring an additional 4,603 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new position in Cyclerion Therapeutics in the 2nd quarter valued at $87,000. Finally, Marshall Wace LLP acquired a new position in Cyclerion Therapeutics in the 2nd quarter valued at $113,000. Hedge funds and other institutional investors own 57.01% of the company’s stock.

About Cyclerion Therapeutics

Cyclerion Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery, development, and commercialization of treatments for serious and orphan diseases, through the use of soluble guanylate cyclase (sGC) pharmacology. Its product pipeline includes several sGC stimulators, a small molecules that act synergistically with nitric oxide on sGC to boost production of cyclic guanosine monophosphate (cGMP).

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