Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives Consensus Recommendation of “Buy” from Brokerages

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has been assigned a consensus recommendation of “Buy” from the six analysts that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $9.17.

Several research firms have commented on CGTX. Oppenheimer reissued an “outperform” rating and set a $9.00 price target on shares of Cognition Therapeutics in a research report on Wednesday, March 27th. HC Wainwright initiated coverage on shares of Cognition Therapeutics in a report on Wednesday, May 29th. They set a “buy” rating and a $10.00 target price for the company. B. Riley reiterated a “buy” rating and set a $5.00 price target on shares of Cognition Therapeutics in a research report on Thursday, March 28th. Rodman & Renshaw restated a “buy” rating and issued a $14.00 price objective on shares of Cognition Therapeutics in a research report on Tuesday. Finally, 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 price objective on the stock.

Cognition Therapeutics Stock Performance

CGTX stock traded up $0.15 during midday trading on Tuesday, reaching $1.82. 600,342 shares of the company traded hands, compared to its average volume of 181,034. The firm has a market capitalization of $72.91 million, a price-to-earnings ratio of -1.95 and a beta of 1.48. Cognition Therapeutics has a 52-week low of $0.90 and a 52-week high of $2.95. The business has a 50 day moving average of $2.02 and a 200-day moving average of $2.01.

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

Hedge Funds Weigh In On Cognition Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Tocqueville Asset Management L.P. acquired a new position in shares of Cognition Therapeutics during the 1st quarter worth about $47,000. Sigma Planning Corp purchased a new stake in shares of Cognition Therapeutics during the fourth quarter worth approximately $53,000. Levin Capital Strategies L.P. purchased a new stake in shares of Cognition Therapeutics during the first quarter worth $55,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Cognition Therapeutics in the fourth quarter worth about $102,000. Finally, Twin Focus Capital Partners LLC purchased a new position in Cognition Therapeutics in the 4th quarter worth approximately $173,000. Hedge funds and other institutional investors 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.