Cortexyme, Inc. (NASDAQ:CRTX) is among the top gainers of the stock market today, skyrocketing 8.29% or (2.35 points) to $30.69 from its previous close of $28.34. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 107532 contracts so far this session. CRTX shares had a relatively better volume day versus average trading capacity of 59.06 million shares, but with a 13.11 million float and a 9.21% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CRTX stock indicates that the average analyst price target is $34.75 per share. This means the stock has a potential increase of 13.23% from where the CRTX share price has been trading recently which is between $27.54 and $33.5.
Looking at the current readings for Cortexyme, Inc., the two-week RSI stands at 74.68. This figure suggests that CRTX stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current CRTX readings is similarly very revealing as it has a stochastic reading of 53.73% at this stage. This figure means that CRTX share price today is being neutral.
Technical chart claims that Cortexyme, Inc. (CRTX) would settle between $32.05/share to $35.75/share level. However, if the stock price goes below the $26.09 mark, then the market for Cortexyme, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $23.83 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 2.35. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at JMP Securities, assumed coverage of CRTX assigning Mkt Outperform rating, according to their opinion released on June 03. Credit Suisse, analysts launched coverage of Cortexyme, Inc. (NASDAQ:CRTX) stock with a Underperform recommendation, according to their flash note issued to investors on June 03. Analysts at Canaccord Genuity, made their first call for the equity with a Buy recommendation, according to a research note that dated back to June 03.
CRTX equity has an average rating of 2.33, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 2 analysts rated Cortexyme, Inc. (NASDAQ:CRTX) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.