Neurotrope (NTRP) Given a $16.00 Price Target at Maxim Group

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Maxim Group set a $16.00 price target on Neurotrope (NASDAQ:NTRP) in a research report released on Thursday. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Neurotrope from a hold rating to a buy rating and set a $11.00 price objective on the stock in a report on Friday, August 17th. ValuEngine raised shares of Neurotrope from a hold rating to a buy rating in a report on Sunday, July 8th.

Shares of NTRP traded down $0.15 on Thursday, reaching $9.25. The company’s stock had a trading volume of 7,224 shares, compared to its average volume of 17,879. Neurotrope has a 12-month low of $3.97 and a 12-month high of $11.93.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tanaka Capital Management Inc. raised its stake in Neurotrope by 12.1% during the 2nd quarter. Tanaka Capital Management Inc. now owns 198,195 shares of the company’s stock worth $1,919,000 after acquiring an additional 21,455 shares during the period. Renaissance Technologies LLC bought a new stake in Neurotrope during the 2nd quarter worth approximately $281,000. Ingalls & Snyder LLC bought a new stake in Neurotrope during the 2nd quarter worth approximately $326,000. Neville Rodie & Shaw Inc. bought a new stake in Neurotrope during the 2nd quarter worth approximately $1,059,000. Finally, Cannell Peter B & Co. Inc. raised its stake in Neurotrope by 14.2% during the 1st quarter. Cannell Peter B & Co. Inc. now owns 270,793 shares of the company’s stock worth $2,199,000 after acquiring an additional 33,600 shares during the period. Institutional investors own 16.83% of the company’s stock.

Neurotrope Company Profile

Neurotrope, Inc, a biopharmaceutical company, focuses on the development of a product platform for the treatment of Alzheimer's disease (AD). 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 and Niemann-Pick Type C.

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