Alliance Global Partners analyst James Molloy raised the firm’s price target on CNS Pharmaceuticals (CNSP) to $7 from $4 pre-reverse-split and keeps a Buy rating on the shares after the company announced Q1 results and a quarterly update last week. The company recently pivoted to focusing on its TPI-287 candidate for Glioblastoma Multiforme after its lead candidate berubicin failed to meet the primary endpoint of a pivotal Phase 2 trial, notes the analyst, who is removing berubicin from the firm’s valuation. The firm, which notes that CNS executed a 50:1 reverse split in Q1, values TPI-287 at $5.25 per share and cash and technology at $1.75 per share.
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