HC Wainwright Cuts Cognition Therapeutics (NASDAQ:CGTX) Price Target to $5.00

Cognition Therapeutics (NASDAQ:CGTX) had its price target dropped by research analysts at HC Wainwright from $7.00 to $5.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Several other equities research analysts also recently weighed in on CGTX. Chardan Capital began coverage on shares of Cognition Therapeutics in a research note on Thursday, June 6th. They set a “buy” rating and a $11.00 target price for the company. B. Riley reiterated a “neutral” rating and set a $1.00 target price (down previously from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. Rodman & Renshaw reiterated a “buy” rating and set a $14.00 target price on shares of Cognition Therapeutics in a research note on Tuesday, July 2nd. Finally, Cantor Fitzgerald downgraded shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.67.

Cognition Therapeutics Price Performance

NASDAQ CGTX opened at $0.59 on Monday. Cognition Therapeutics has a 1 year low of $0.54 and a 1 year high of $2.95. The company has a market capitalization of $23.63 million, a PE ratio of -0.64 and a beta of 1.46. The company has a fifty day moving average of $1.65 and a two-hundred day moving average of $1.89.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. During the same quarter last year, the company posted ($0.16) earnings per share. On average, research analysts expect that Cognition Therapeutics will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On Cognition Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CGTX. Tocqueville Asset Management L.P. acquired a new stake in Cognition Therapeutics in the first quarter valued at about $47,000. Sigma Planning Corp purchased a new position in Cognition Therapeutics in the fourth quarter valued at about $53,000. Levin Capital Strategies L.P. purchased a new position in Cognition Therapeutics in the first quarter valued at about $55,000. Bangor Savings Bank increased its holdings in 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. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new position in Cognition Therapeutics in the fourth quarter valued at about $102,000. Institutional investors and hedge funds own 43.35% of the company’s stock.

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.