Alpha Cognition (NASDAQ:ACOG) Cut to Sell at Wall Street Zen

Key Points

• Alpha Cognition has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling a shift in analysts' outlook on the stock.
• Despite the downgrade, HC Wainwright maintains a "buy" rating with a target price of $20.00 for the company's shares.
• In the latest earnings report, Alpha Cognition missed earnings expectations, reporting a net loss of ($0.65) per share against estimates of ($0.46).

Wall Street Zen cut shares of Alpha Cognition (NASDAQ:ACOG - Free Report) from a hold rating to a sell rating in a research note released on Saturday.

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Alpha Cognition in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $20.00.

Alpha Cognition Stock Performance

ACOG stock traded down $0.05 during mid-day trading on Friday, reaching $8.40. 38,981 shares of the stock traded hands, compared to its average volume of 90,097. Alpha Cognition has a one year low of $3.75 and a one year high of $11.54. The stock has a market capitalization of $134.57 million, a PE ratio of -5.25 and a beta of 2.72. The business has a 50-day moving average price of $9.63 and a two-hundred day moving average price of $7.44.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.19). The firm had revenue of $1.66 million for the quarter, compared to analysts' expectations of $2.32 million.

Institutional Trading of Alpha Cognition

Hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL acquired a new stake in Alpha Cognition in the 4th quarter worth about $412,000. Villere ST Denis J & Co. LLC boosted its stake in Alpha Cognition by 201.0% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 71,778 shares of the company's stock worth $363,000 after buying an additional 47,928 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in Alpha Cognition in the 4th quarter worth about $1,284,000. Bleichroeder LP acquired a new stake in Alpha Cognition in the 4th quarter worth about $1,024,000. Finally, Salem Investment Counselors Inc. acquired a new stake in Alpha Cognition during the first quarter worth about $230,000.

Alpha Cognition Company Profile

Alpha Cognition, Inc is a clinical stage biopharmaceutical company that develops treatments for underserved neurodegenerative diseases such as Alzheimer's Dementia and Amyotrophic Lateral Sclerosis. The company was founded in 2000 and is headquartered in Vancouver, Canada.