JMP Securities analyst Jason Butler started Cortexyme with an Outperform rating and $53 price target. Cortexyme is developing a "highly novel and differentiated" therapy to treat Alzheimer's disease, which may address a key causative driver of the disease and provide potential to truly halt disease progression, Butler tells investors in a research note. Should the company's Phase 2/3 trial for COR388 in mild-to-moderate Alzheimer's, anticipated by the end of 2021, confirm a disease-modifying effect, it would represent a "seminal advance in the treatment of AD," says Butler.