Brokerages Set Cognition Therapeutics, Inc. (NASDAQ:CGTX) PT at $9.17

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $8.67.

CGTX has been the subject of a number of research reports. Cantor Fitzgerald cut Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday. Rodman & Renshaw restated a “buy” rating and issued a $14.00 price target on shares of Cognition Therapeutics in a research note on Tuesday, July 2nd. HC Wainwright lowered their price target on Cognition Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Chardan Capital began coverage on Cognition Therapeutics in a report on Thursday, June 6th. They set a “buy” rating and a $11.00 price target on the stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGTX. CM Management LLC raised its stake in shares of Cognition Therapeutics by 14.3% during the second quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $332,000 after acquiring an additional 25,000 shares in the last quarter. Bangor Savings Bank raised its position 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 worth $56,000 after acquiring an additional 10,000 shares during the period. Levin Capital Strategies L.P. acquired a new position in shares of Cognition Therapeutics in the first quarter worth about $55,000. AWM Investment Company Inc. acquired a new position in shares of Cognition Therapeutics during the 1st quarter worth about $1,183,000. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Cognition Therapeutics during the 1st quarter worth about $47,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Price Performance

Shares of CGTX opened at $0.73 on Friday. The firm has a market cap of $29.19 million, a PE ratio of -0.79 and a beta of 1.46. The stock’s fifty day moving average price is $1.86 and its two-hundred day moving average price is $1.98. Cognition Therapeutics has a 1 year low of $0.72 and a 1 year high of $2.95.

Cognition Therapeutics (NASDAQ:CGTX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Sell-side analysts anticipate that Cognition Therapeutics will post -0.97 earnings per share for the current fiscal year.

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.