Alpha Cognition (NASDAQ:ACOG) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Alpha Cognition from “sell” to “hold,” while the broader analyst consensus remains “buy” with an average price target of $16.75.
• Alpha Cognition reported a quarterly loss of $0.40 per share, slightly missing estimates, but revenue of $6.0 million exceeded the $4.38 million consensus forecast.
• The stock opened at $8.84, up 2.4%, with a market capitalization of approximately $192.45 million; several hedge funds recently established new positions in the company.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other research analysts have also weighed in on the company. Maxim Group assumed coverage on Alpha Cognition in a research report on Friday, May 29th. They issued a "buy" rating and a $12.00 price objective for the company. Raymond James Financial started coverage on Alpha Cognition in a research report on Friday, July 10th. They issued an "outperform" rating and a $20.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price target on shares of Alpha Cognition in a research note on Friday, May 22nd. Finally, Craig Hallum reiterated a "buy" rating and set a $17.00 price target on shares of Alpha Cognition in a report on Friday. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $16.75.

Alpha Cognition Stock Up 2.4%

ACOG opened at $8.84 on Friday. The company has a market cap of $192.45 million, a PE ratio of -8.04 and a beta of 2.31. Alpha Cognition has a twelve month low of $4.50 and a twelve month high of $10.00. The company has a 50-day moving average price of $7.74 and a 200 day moving average price of $6.52.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.01). The business had revenue of $6.00 million during the quarter, compared to analyst estimates of $4.38 million. Alpha Cognition had a negative net margin of 153.61% and a negative return on equity of 55.04%. As a group, sell-side analysts expect that Alpha Cognition will post -1.37 earnings per share for the current year.

Hedge Funds Weigh In On Alpha Cognition

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC acquired a new position in shares of Alpha Cognition in the second quarter valued at approximately $112,000. Massar Capital Management LP purchased a new position in Alpha Cognition in the 2nd quarter valued at $116,000. Two Sigma Investments LP purchased a new position in Alpha Cognition in the 3rd quarter valued at $148,000. Connective Capital Management LLC acquired a new position in Alpha Cognition in the 3rd quarter valued at $312,000. Finally, ACT Capital Management LLC acquired a new position in Alpha Cognition in the 4th quarter valued at $335,000.

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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