Alpha Cognition Inc. (NASDAQ:ACOG) Receives Average Recommendation of “Buy” from Analysts

Alpha Cognition Inc. (NASDAQ:ACOG) has been given an average recommendation of “Buy” by the five analysts that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $18.00.

A number of brokerages have recently commented on ACOG. Raymond James Financial started coverage on Alpha Cognition in a report on Friday, July 10th. They issued an “outperform” rating and a $20.00 target price for the company. HC Wainwright boosted their target price on shares of Alpha Cognition from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Wall Street Zen upgraded shares of Alpha Cognition from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Craig Hallum reaffirmed a “buy” rating and issued a $17.00 price target on shares of Alpha Cognition in a research note on Friday, August 14th. Finally, B. Riley Financial started coverage on shares of Alpha Cognition in a research note on Thursday, August 20th. They issued a “buy” rating and a $21.00 price target on the stock.

Insider Buying and Selling

In related news, Director Robert Wills bought 10,000 shares of Alpha Cognition stock in a transaction dated Friday, August 21st. The shares were acquired at an average cost of $9.62 per share, with a total value of $96,200.00. Following the completion of the transaction, the director owned 32,241 shares in the company, valued at $310,158.42. The trade was a 44.96% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Alpha Cognition

Large investors have recently modified their holdings of the company. Opaleye Management Inc. lifted its holdings in shares of Alpha Cognition by 1,698.5% in the 4th quarter. Opaleye Management Inc. now owns 2,070,784 shares of the company’s stock worth $13,460,000 after buying an additional 1,955,642 shares during the period. AWM Investment Company Inc. bought a new position in shares of Alpha Cognition during the 2nd quarter worth $12,073,000. Alyeska Investment Group L.P. purchased a new position in shares of Alpha Cognition during the fourth quarter valued at $2,372,000. Cable Car Capital LP increased its stake in shares of Alpha Cognition by 68.8% during the second quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock valued at $8,108,000 after buying an additional 354,278 shares during the period. Finally, Sphera Funds Management LTD. raised its holdings in shares of Alpha Cognition by 67.6% in the fourth quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company’s stock valued at $3,690,000 after acquiring an additional 228,864 shares in the last quarter.

Alpha Cognition Price Performance

NASDAQ ACOG opened at $8.90 on Friday. Alpha Cognition has a 1-year low of $4.50 and a 1-year high of $10.14. The business has a 50 day simple moving average of $8.80 and a two-hundred day simple moving average of $7.08. The stock has a market capitalization of $193.84 million, a PE ratio of -8.09 and a beta of 2.32.

Alpha Cognition (NASDAQ:ACOG) last posted its earnings results on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). Alpha Cognition had a negative net margin of 153.61% and a negative return on equity of 54.60%. The firm had revenue of $6.00 million for the quarter, compared to the consensus estimate of $4.38 million. On average, analysts anticipate that Alpha Cognition will post -1.38 EPS for the current fiscal year.

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.