Alpha Cognition (NASDAQ:ACOG) Receives Buy Rating from HC Wainwright

Key Points

• HC Wainwright reaffirmed a "buy" rating on Alpha Cognition with an $18.00 price target, implying about a 162% upside from the stock's recent close.
• Alpha Cognition reported a quarterly EPS of ($0.30) versus ($0.27) expected and revenue of $2.6M versus $4.41M expected, leaving the company with a negative net margin (202.23%) and negative ROE (55.71%), while sell-side analysts expect about -1.34 EPS for the current fiscal year.
• Consensus analyst coverage is bullish overall (average target $16.00 with two Buy ratings), while the stock trades around $6.86 with a market cap of roughly $149M and a 52-week range of $4.50–$11.54.

Alpha Cognition (NASDAQ:ACOG - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $18.00 target price on the stock. HC Wainwright's price target points to a potential upside of 162.39% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Alpha Cognition from a "sell" rating to a "hold" rating in a research note on Saturday, April 18th. Craig Hallum initiated coverage on shares of Alpha Cognition in a report on Friday, April 17th. They issued a "buy" rating and a $14.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $16.00.

Alpha Cognition Stock Performance

Shares of ACOG stock opened at $6.86 on Monday. Alpha Cognition has a 52-week low of $4.50 and a 52-week high of $11.54. The stock has a market cap of $149.34 million, a PE ratio of -5.91 and a beta of 2.51. The firm's 50 day moving average price is $6.00 and its two-hundred day moving average price is $6.01.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.03). Alpha Cognition had a negative net margin of 202.23% and a negative return on equity of 55.71%. The business had revenue of $2.60 million during the quarter, compared to the consensus estimate of $4.41 million. As a group, sell-side analysts predict that Alpha Cognition will post -1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alpha Cognition

Institutional investors and hedge funds have recently modified their holdings of the business. Berkshire Asset Management LLC PA raised its position in shares of Alpha Cognition by 50.7% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 17,824 shares of the company's stock valued at $116,000 after buying an additional 6,000 shares in the last quarter. Villere ST Denis J & Co. LLC grew its position in Alpha Cognition by 13.2% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 73,875 shares of the company's stock worth $480,000 after buying an additional 8,617 shares in the last quarter. Green Alpha Advisors LLC bought a new stake in Alpha Cognition during the fourth quarter worth about $72,000. Geode Capital Management LLC purchased a new stake in shares of Alpha Cognition during the second quarter worth about $112,000. Finally, Massar Capital Management LP purchased a new stake in Alpha Cognition in the second quarter worth about $116,000.

About Alpha Cognition

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.

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