Alpha Cognition (NASDAQ:ACOG) Upgraded to “Moderate Buy” at Raymond James Financial

Raymond James Financial upgraded shares of Alpha Cognition (NASDAQ:ACOG) to a moderate buy rating in a report released on Friday,Zacks.com reports.

ACOG has been the subject of several other reports. Maxim Group started coverage on Alpha Cognition in a research note on Friday, May 29th. They set a “buy” rating and a $12.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Alpha Cognition in a research note on Friday, May 22nd. Craig Hallum initiated coverage on Alpha Cognition in a report on Friday, April 17th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, Wall Street Zen cut Alpha Cognition from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $16.00.

Alpha Cognition Stock Performance

Alpha Cognition stock traded down $0.11 during midday trading on Friday, reaching $8.41. 56,692 shares of the stock were exchanged, compared to its average volume of 44,959. Alpha Cognition has a 52 week low of $4.50 and a 52 week high of $11.20. The firm has a market cap of $183.09 million, a PE ratio of -6.23 and a beta of 2.32. The company’s fifty day moving average is $6.47 and its 200-day moving average is $6.11.

Alpha Cognition (NASDAQ:ACOG) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.04. The company had revenue of $3.53 million for the quarter, compared to analysts’ expectations of $3.42 million. Alpha Cognition had a negative return on equity of 58.35% and a negative net margin of 232.23%. On average, sell-side analysts anticipate that Alpha Cognition will post -1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpha Cognition

Several large investors have recently made changes to their positions in ACOG. Green Alpha Advisors LLC bought a new position in shares of Alpha Cognition during the 4th quarter worth about $72,000. Geode Capital Management LLC bought a new position in shares of Alpha Cognition in the 2nd quarter valued at about $112,000. Massar Capital Management LP bought a new position in shares of Alpha Cognition in the 2nd quarter valued at about $116,000. Two Sigma Investments LP acquired a new position in Alpha Cognition in the third quarter valued at approximately $148,000. Finally, Connective Capital Management LLC bought a new position in Alpha Cognition in the third quarter valued at approximately $312,000.

Alpha Cognition Company Profile

Alpha Cognition, Inc is a clinical stage biopharmaceutical company that develops treatments for underserved neurodegenerative diseases such as Alzheimer’s Dementia and Amyotrophic Lateral Sclerosis. The company was founded in 2000 and is headquartered in Vancouver, Canada.