Alpha Cognition (NASDAQ:ACOG) Announces Earnings Results, Beats Expectations By $0.06 EPS

Alpha Cognition (NASDAQ:ACOG) announced its quarterly earnings results on Wednesday. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06, Zacks reports. Alpha Cognition had a negative net margin of 153.61% and a negative return on equity of 54.60%.

Alpha Cognition Price Performance

Shares of ACOG traded down $0.11 during mid-day trading on Wednesday, reaching $8.62. 124,359 shares of the company’s stock were exchanged, compared to its average volume of 82,198. The business’s fifty day simple moving average is $8.78 and its 200-day simple moving average is $7.24. The stock has a market capitalization of $187.74 million, a PE ratio of -7.84 and a beta of 2.32. Alpha Cognition has a 52-week low of $4.50 and a 52-week high of $10.14.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ACOG shares. Wall Street Zen raised Alpha Cognition from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. HC Wainwright lifted their target price on Alpha Cognition from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. B. Riley Financial assumed coverage on Alpha Cognition in a report on Thursday, August 20th. They issued a “buy” rating and a $21.00 target price for the company. Finally, Craig Hallum reissued a “buy” rating and issued a $17.00 target price on shares of Alpha Cognition in a research report on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $18.00.

Insider Buying and Selling

In other Alpha Cognition news, Director Robert Wills purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average price of $9.62 per share, for a total transaction of $96,200.00. Following the purchase, the director directly owned 32,241 shares in the company, valued at approximately $310,158.42. This trade represents a 44.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by company insiders.

Alpha Cognition Company Profile

Alpha Cognition Inc. is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative diseases and cognitive disorders. The company’s work is centered on therapies intended to address the medical needs of patients with Alzheimer’s disease and other conditions affecting cognition. Its lead commercial product is ZUNOVO (galantamine hydrobromide) extended-release capsules, an orally administered treatment approved by the U.S. Food and Drug Administration for mild-to-moderate dementia of the Alzheimer’s type.