Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives $8.00 Average Price Target from Brokerages

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has been given a consensus rating of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $8.00.

A number of research analysts recently issued reports on CGTX shares. Cantor Fitzgerald lowered Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. B. Riley reissued a “neutral” rating and issued a $1.00 target price (down from $5.00) on shares of Cognition Therapeutics in a report on Tuesday, August 6th. Rodman & Renshaw restated a “buy” rating and issued a $14.00 price target on shares of Cognition Therapeutics in a research report on Tuesday, July 2nd. Finally, HC Wainwright dropped their price target on Cognition Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, August 12th.

Cognition Therapeutics Stock Performance

Shares of Cognition Therapeutics stock opened at $0.40 on Thursday. The business’s 50 day moving average price is $0.58 and its 200 day moving average price is $1.45. The company has a market cap of $16.04 million, a price-to-earnings ratio of -0.44 and a beta of 1.36. Cognition Therapeutics has a one year low of $0.34 and a one year high of $2.95.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. During the same period last year, the firm earned ($0.16) earnings per share. On average, analysts predict that Cognition Therapeutics will post -0.96 EPS for the current fiscal year.

Institutional Trading of Cognition Therapeutics

Several large investors have recently added to or reduced their stakes in CGTX. Tocqueville Asset Management L.P. acquired a new position in shares of Cognition Therapeutics in the 1st quarter valued at approximately $47,000. Levin Capital Strategies L.P. acquired a new position in shares of Cognition Therapeutics in the 1st quarter valued at approximately $55,000. Bangor Savings Bank raised its position in shares of Cognition Therapeutics by 41.6% in the 2nd quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock valued at $56,000 after purchasing an additional 10,000 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Cognition Therapeutics by 33.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock valued at $159,000 after acquiring an additional 24,050 shares in the last quarter. Finally, Twin Focus Capital Partners LLC acquired a new stake in shares of Cognition Therapeutics during the 4th quarter valued at approximately $173,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.

About Cognition Therapeutics

Cognition Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina. Its lead product candidate is CT1812, an orally delivered molecule modulator designed to penetrate the blood-brain barrier and bind selectively to the S2R complex, which is in Phase 2 clinical trial for the treatment of Alzheimer's disease, as well as geographic atrophy secondary to dry age-related macular degeneration and synucleinopathies, such as dementia with Lewy bodies.