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

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $8.00.

Several equities research analysts have issued reports on the stock. B. Riley reissued a “neutral” rating and issued a $1.00 price target (down previously from $5.00) on shares of Cognition Therapeutics in a report on Tuesday, August 6th. 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 report on Monday, August 12th. Cantor Fitzgerald lowered shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Chardan Capital assumed coverage on shares of Cognition Therapeutics in a report on Thursday, June 6th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Rodman & Renshaw reissued a “buy” rating and issued a $14.00 price target on shares of Cognition Therapeutics in a report on Tuesday, July 2nd.

Hedge Funds Weigh In On Cognition Therapeutics

Several hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV grew its stake 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 worth $159,000 after acquiring an additional 24,050 shares in the last quarter. CM Management LLC grew its stake in shares of Cognition Therapeutics by 14.3% in the second quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $332,000 after buying an additional 25,000 shares in the last quarter. Bangor Savings Bank grew its stake in shares of Cognition Therapeutics by 41.6% in the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock valued at $56,000 after buying an additional 10,000 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in shares of Cognition Therapeutics in the first quarter valued at $55,000. Finally, AWM Investment Company Inc. bought a new position in shares of Cognition Therapeutics in the first quarter valued at $1,183,000. 43.35% of the stock is owned by institutional investors.

Cognition Therapeutics Trading Down 1.1 %

Shares of Cognition Therapeutics stock opened at $0.59 on Friday. The firm has a fifty day simple moving average of $1.02 and a 200-day simple moving average of $1.63. Cognition Therapeutics has a 1-year low of $0.54 and a 1-year high of $2.95. The stock has a market capitalization of $23.57 million, a price-to-earnings ratio of -0.64 and a beta of 1.41.

Cognition Therapeutics (NASDAQ:CGTX) last released its earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. During the same quarter last year, the firm earned ($0.16) EPS. As a group, research analysts predict that Cognition Therapeutics will post -0.87 earnings per share for the current year.

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.