Cognition Therapeutics (NASDAQ:CGTX) Upgraded by Brookline Capital Management to Strong-Buy Rating

Brookline Capital Management upgraded shares of Cognition Therapeutics (NASDAQ:CGTX) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

CGTX has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Monday, December 29th. Wall Street Zen raised shares of Cognition Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of Cognition Therapeutics in a research note on Thursday, December 4th. Finally, B. Riley reissued a “buy” rating and set a $3.00 price target (up from $2.00) on shares of Cognition Therapeutics in a report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Cognition Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $3.33.

Cognition Therapeutics Price Performance

Shares of NASDAQ:CGTX opened at $1.03 on Tuesday. Cognition Therapeutics has a 12 month low of $0.22 and a 12 month high of $3.83. The firm has a market capitalization of $90.92 million, a P/E ratio of -2.15 and a beta of 1.25. The company’s fifty day moving average price is $1.47 and its 200 day moving average price is $1.56.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. On average, sell-side analysts anticipate that Cognition Therapeutics will post -0.8 EPS for the current year.

Institutional Investors Weigh In On Cognition Therapeutics

A number of large investors have recently bought and sold shares of CGTX. DAVENPORT & Co LLC raised its holdings in shares of Cognition Therapeutics by 6.8% in the fourth quarter. DAVENPORT & Co LLC now owns 2,871,836 shares of the company’s stock worth $3,877,000 after acquiring an additional 182,500 shares during the last quarter. Vanguard Group Inc. increased its position in Cognition Therapeutics by 105.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,681,613 shares of the company’s stock worth $3,620,000 after purchasing an additional 1,377,263 shares in the last quarter. Acadian Asset Management LLC increased its position in Cognition Therapeutics by 814.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,007,586 shares of the company’s stock worth $422,000 after purchasing an additional 897,353 shares in the last quarter. Chescapmanager LLC raised its stake in Cognition Therapeutics by 98.1% in the 3rd quarter. Chescapmanager LLC now owns 997,029 shares of the company’s stock valued at $1,346,000 after purchasing an additional 493,770 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Cognition Therapeutics in the 3rd quarter valued at about $757,000. Institutional investors and hedge funds own 43.35% of the company’s stock.

About Cognition Therapeutics

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.