Zacks Investment Research upgraded shares of Neurotrope (NASDAQ:NTRP) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. The brokerage currently has $6.50 price target on the stock.
According to Zacks, “Neurotrope, Inc. is focused primarily on the development and commercialization of Alzheimer’s disease therapeutic products related diagnostics. The Company develops and markets two product platforms, including a non-invasive diagnostic test for Alzheimer’s disease and a drug candidate called bryostatin for the treatment of Alzheimer’s disease, both of which are in the clinical testing stage. Neurotrope, Inc. is based in Plantation, Florida. “
A number of other equities analysts have also recently weighed in on the company. Janney Montgomery Scott assumed coverage on Neurotrope in a report on Tuesday, June 18th. They issued a buy rating and a $14.00 price target for the company. ValuEngine raised Neurotrope from a hold rating to a buy rating in a report on Thursday, August 1st.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Neurotrope by 21.7% during the 2nd quarter. Vanguard Group Inc. now owns 266,735 shares of the company’s stock worth $2,139,000 after buying an additional 47,609 shares in the last quarter. Cannell Peter B & Co. Inc. increased its stake 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 in the last quarter. MYDA Advisors LLC purchased a new stake in Neurotrope during the 1st quarter worth approximately $690,000. NorthRock Partners LLC increased its stake in Neurotrope by 45.5% during the 2nd quarter. NorthRock Partners LLC now owns 104,000 shares of the company’s stock worth $834,000 after buying an additional 32,500 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Neurotrope by 144.3% during the 2nd quarter. BlackRock Inc. now owns 60,041 shares of the company’s stock worth $482,000 after buying an additional 35,464 shares in the last quarter. Institutional investors own 14.61% of the company’s stock.
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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