Alpha Cognition Inc. (NASDAQ:ACOG) Stock Now Rated “Buy” by Sell-Side Brokerages

Alpha Cognition Inc. (NASDAQ:ACOG) has earned a consensus rating of “Buy” from the five analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.00.

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

Alpha Cognition Price Performance

ACOG stock opened at $8.84 on Thursday. Alpha Cognition has a fifty-two week low of $4.50 and a fifty-two week high of $10.14. The stock has a market capitalization of $192.52 million, a price-to-earnings ratio of -8.04 and a beta of 2.32. The business’s fifty day moving average price is $9.02 and its two-hundred day moving average price is $7.54.

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

Insider Buying and Selling at Alpha Cognition

In related news, Director Robert Wills bought 10,000 shares of Alpha Cognition stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of $9.62 per share, with a total value of $96,200.00. Following the acquisition, the director owned 32,241 shares in the company, valued at $310,158.42. This trade represents a 44.96% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Opaleye Management Inc. increased its stake in Alpha Cognition by 13.0% in the second quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company’s stock valued at $20,905,000 after acquiring an additional 333,517 shares during the last quarter. AWM Investment Company Inc. bought a new position in shares of Alpha Cognition in the second quarter worth about $12,073,000. Aristides Capital LLC lifted its holdings in shares of Alpha Cognition by 1.4% in the first quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock worth $1,200,000 after acquiring an additional 3,052 shares during the last quarter. Finally, ACT Capital Management LLC acquired a new stake in shares of Alpha Cognition in the 4th quarter valued at approximately $335,000.

Alpha Cognition Company Profile

Alpha Cognition Inc (NASDAQ: ACOG) is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative disorders, including Alzheimer’s disease and related cognitive conditions. The company’s work is centered on addressing unmet needs in the diagnosis, management and treatment of diseases that affect memory and cognitive function.

Its lead commercial product is ZUNOVO (memantine hydrochloride extended-release capsules), a prescription therapy approved by the U.S.