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

Key Points

• Wall Street Zen downgraded Alpha Cognition from “hold” to “sell,” despite a broader analyst consensus of “buy” and an average price target of $18.20.
• The company reported quarterly revenue of $7.78 million, above estimates of $7.04 million, but its loss of $0.35 per share slightly missed forecasts.
• Director Robert Wills purchased 10,000 shares at an average price of $9.62, increasing his stake by 44.96%.

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

A number of other brokerages have also recently issued reports on ACOG. Raymond James Financial set a $21.00 target price on Alpha Cognition and gave the stock an "outperform" rating in a report on Thursday. HC Wainwright upped their price target on Alpha Cognition from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, August 17th. B. Riley Financial assumed coverage on shares of Alpha Cognition in a research note on Thursday, August 20th. They set a "buy" rating and a $21.00 price objective on the stock. Finally, Craig Hallum restated a "buy" rating and set a $17.00 price objective on shares of Alpha Cognition in a report on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $18.20.

Alpha Cognition Stock Down 3.0%

ACOG opened at $8.30 on Friday. The company has a fifty day moving average price of $8.74 and a two-hundred day moving average price of $7.28. Alpha Cognition has a 52 week low of $4.50 and a 52 week high of $10.14.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last posted its quarterly earnings results on Wednesday, November 11th. The company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.01). Alpha Cognition had a negative net margin of 147.26% and a negative return on equity of 50.90%. The company had revenue of $7.78 million during the quarter, compared to analyst estimates of $7.04 million. As a group, research analysts predict that Alpha Cognition will post -1.38 earnings per share for the current fiscal year.

Insider Activity at Alpha Cognition

In other Alpha Cognition news, Director Robert Wills acquired 10,000 shares of the business's stock in a transaction dated Friday, August 21st. The shares were acquired at an average price of $9.62 per share, for a total transaction of $96,200.00. Following the acquisition, the director directly owned 32,241 shares of the company's stock, valued at approximately $310,158.42. This trade represents a 44.96% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ACOG. Opaleye Management Inc. increased its position in shares of Alpha Cognition by 13.0% during the second quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company's stock worth $20,905,000 after acquiring an additional 333,517 shares in the last quarter. AWM Investment Company Inc. acquired a new stake in shares of Alpha Cognition during the second quarter worth $12,073,000. Marshall Wace LLP bought a new stake in Alpha Cognition in the 3rd quarter valued at $449,000. ACT Capital Partners L.P. bought a new stake in Alpha Cognition in the 3rd quarter valued at $464,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in Alpha Cognition in the 3rd quarter valued at $210,000.

About Alpha Cognition

Alpha Cognition Inc. is a biopharmaceutical company focused on developing treatments for people with neurodegenerative diseases and cognitive disorders. The company is based in Vancouver, British Columbia. Its lead product, ZUNVEYL (benzgalantamine), is an oral medication approved by the U.S. Food and Drug Administration to treat mild to moderate dementia of the Alzheimer's type. The company developed benzgalantamine as a prodrug of galantamine. Alpha Cognition is also developing ALPHA-1062 for potential use in other cognitive disorders, including cognitive impairment associated with traumatic brain injury.

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