FY2024 EPS Estimates for Cognition Therapeutics, Inc. (NASDAQ:CGTX) Raised by Cantor Fitzgerald

Cognition Therapeutics, Inc. (NASDAQ:CGTX) – Investment analysts at Cantor Fitzgerald boosted their FY2024 earnings estimates for Cognition Therapeutics in a research note issued on Thursday, August 22nd. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will post earnings per share of ($0.90) for the year, up from their prior estimate of ($1.13). Cantor Fitzgerald has a “Neutral” rating on the stock. The consensus estimate for Cognition Therapeutics’ current full-year earnings is ($0.97) per share.

CGTX has been the topic of a number of other reports. Rodman & Renshaw reissued a “buy” rating and issued a $14.00 price objective on shares of Cognition Therapeutics in a research note on Tuesday, July 2nd. HC Wainwright lowered their price target on shares of Cognition Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Chardan Capital started coverage on shares of Cognition Therapeutics in a research note on Thursday, June 6th. They set a “buy” rating and a $11.00 price objective for the company. Finally, B. Riley reaffirmed a “neutral” rating and issued a $1.00 target price (down previously from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Cognition Therapeutics Stock Down 2.7 %

Shares of CGTX stock opened at $0.74 on Monday. The stock has a market cap of $29.56 million, a P/E ratio of -0.80 and a beta of 1.46. Cognition Therapeutics has a fifty-two week low of $0.54 and a fifty-two week high of $2.95. The business has a fifty day simple moving average of $1.44 and a 200-day simple moving average of $1.80.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. During the same period in the previous year, the company earned ($0.16) earnings per share.

Hedge Funds Weigh In On Cognition Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CGTX. Tocqueville Asset Management L.P. purchased a new stake in Cognition Therapeutics in the 1st quarter worth approximately $47,000. Sigma Planning Corp purchased a new stake in shares of Cognition Therapeutics in the fourth quarter valued at $53,000. Levin Capital Strategies L.P. acquired a new position in Cognition Therapeutics in the first quarter valued at $55,000. Bangor Savings Bank lifted its position in Cognition Therapeutics by 41.6% during the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock worth $56,000 after buying an additional 10,000 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in Cognition Therapeutics in the 4th quarter worth about $102,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Company Profile

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.