Alpha Cognition (NASDAQ:ACOG) Stock Rating Upgraded by Raymond James Financial

Key Points

• Raymond James Financial upgraded Alpha Cognition to a “moderate buy,” adding to a generally positive analyst outlook on the stock.
• Other firms remain bullish overall: Maxim Group, Craig Hallum, and HC Wainwright all have buy ratings, while MarketBeat shows an average rating of Buy with a $16.00 price target.
• Alpha Cognition recently beat quarterly EPS and revenue estimates, but the company is still unprofitable with negative margins and analysts expect a loss for the current fiscal year.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) was upgraded by equities research analysts at Raymond James Financial to a "moderate buy" rating in a note issued to investors on Friday,Zacks.com reports.

Several other brokerages also recently commented on ACOG. Maxim Group began coverage on Alpha Cognition in a research note on Friday, May 29th. They set a "buy" rating and a $12.00 target price for the company. Craig Hallum began coverage on shares of Alpha Cognition in a research note on Friday, April 17th. They issued a "buy" rating and a $14.00 price target on the stock. Wall Street Zen lowered shares of Alpha Cognition from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Finally, HC Wainwright reiterated a "buy" rating and set a $18.00 price objective on shares of Alpha Cognition in a research report on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $16.00.

Alpha Cognition Stock Performance

Shares of NASDAQ:ACOG opened at $8.41 on Friday. The business has a fifty day moving average of $6.47 and a 200-day moving average of $6.11. The firm has a market cap of $183.09 million, a PE ratio of -6.23 and a beta of 2.32. Alpha Cognition has a twelve month low of $4.50 and a twelve month high of $11.20.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.04. Alpha Cognition had a negative return on equity of 58.35% and a negative net margin of 232.23%.The company had revenue of $3.53 million for the quarter, compared to analyst estimates of $3.42 million. On average, analysts anticipate that Alpha Cognition will post -1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Alpha Cognition

Hedge funds and other institutional investors have recently bought and sold shares of the company. Opaleye Management Inc. increased its holdings in Alpha Cognition by 1,698.5% in the 4th quarter. Opaleye Management Inc. now owns 2,070,784 shares of the company's stock worth $13,460,000 after purchasing an additional 1,955,642 shares in the last quarter. AWM Investment Company Inc. boosted its stake in shares of Alpha Cognition by 52.6% during the fourth quarter. AWM Investment Company Inc. now owns 1,672,168 shares of the company's stock valued at $10,869,000 after purchasing an additional 576,516 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Alpha Cognition during the fourth quarter worth about $2,372,000. Cable Car Capital LP increased its stake in shares of Alpha Cognition by 68.8% in the second quarter. Cable Car Capital LP now owns 869,002 shares of the company's stock valued at $8,108,000 after buying an additional 354,278 shares during the period. Finally, Sphera Funds Management LTD. increased its stake in shares of Alpha Cognition by 67.6% in the fourth quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company's stock valued at $3,690,000 after buying an additional 228,864 shares during the period.

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.

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