Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $3.3333.

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Cognition Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of Cognition Therapeutics in a report on Thursday, December 4th. B. Riley reissued a “buy” rating and issued a $3.00 price objective (up previously from $2.00) on shares of Cognition Therapeutics in a research note on Friday, November 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cognition Therapeutics in a report on Monday, December 29th.

Cognition Therapeutics Stock Down 1.4%

CGTX stock opened at $1.41 on Friday. Cognition Therapeutics has a twelve month low of $0.22 and a twelve month high of $3.83. The firm has a market cap of $124.46 million, a price-to-earnings ratio of -2.94 and a beta of 1.26. The business’s fifty day simple moving average is $1.56 and its two-hundred day simple moving average is $1.46.

Cognition Therapeutics (NASDAQ:CGTX) last issued its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Research analysts expect that Cognition Therapeutics will post -0.8 EPS for the current year.

Institutional Trading of Cognition Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. DAVENPORT & Co LLC acquired a new stake in shares of Cognition Therapeutics in the 3rd quarter worth $3,631,000. Everhart Financial Group Inc. purchased a new stake in Cognition Therapeutics in the third quarter valued at about $43,000. Bryn Mawr Trust Advisors LLC boosted its holdings in Cognition Therapeutics by 69.1% in the third quarter. Bryn Mawr Trust Advisors LLC now owns 39,466 shares of the company’s stock worth $53,000 after acquiring an additional 16,129 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Cognition Therapeutics during the third quarter worth about $25,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Cognition Therapeutics during the third quarter valued at about $265,000. 43.35% of the stock is owned by hedge funds and other institutional investors.

Cognition Therapeutics Company Profile

Cognition Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing disease-modifying therapies for neurodegenerative disorders, with an emphasis on Alzheimer’s disease. The company’s lead investigational candidate, CT1812, is an oral small molecule that antagonizes the sigma-2 receptor complex to protect synapses from amyloid-beta oligomer toxicity. By targeting a novel mechanism of action, Cognition Therapeutics aims to slow or reverse cognitive decline in patients living with Alzheimer’s disease.

CT1812 has successfully completed Phase 1 safety studies and preliminary Phase 2a trials, and is currently being evaluated in multiple Phase 2 clinical studies across North America and Europe in patients with mild-to-moderate Alzheimer’s disease.