Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give Cognition Therapeutics a “Moderate Buy” consensus: three analysts rate the stock a buy while one recommends selling. The average 12-month price target is $3.33.
• CGTX shares recently rose 1.8% to $0.92, with a market capitalization of approximately $82.1 million. Institutional investors and hedge funds own 43.35% of the company.
• The clinical-stage biotech focuses on Alzheimer’s disease therapies, with its lead candidate CT1812 currently being evaluated in multiple Phase 2 studies after completing Phase 1 and preliminary Phase 2a trials.

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the four analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $3.3333.

Several brokerages have commented on CGTX. Weiss Ratings restated a "sell (d-)" rating on shares of Cognition Therapeutics in a report on Wednesday, June 24th. HC Wainwright restated a "buy" rating and set a $3.00 price objective on shares of Cognition Therapeutics in a report on Monday, June 22nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Essex Financial Services Inc. acquired a new stake in Cognition Therapeutics in the 4th quarter valued at approximately $27,000. Gamco Investors INC. ET AL acquired a new position in Cognition Therapeutics during the 3rd quarter worth approximately $27,000. Private Management Group Inc. acquired a new position in Cognition Therapeutics during the 3rd quarter worth approximately $32,000. Marshall Wace LLP bought a new position in shares of Cognition Therapeutics during the 4th quarter worth approximately $37,000. Finally, Raymond James Financial Inc. grew its stake in shares of Cognition Therapeutics by 34.7% during the 3rd quarter. Raymond James Financial Inc. now owns 29,641 shares of the company's stock worth $40,000 after acquiring an additional 7,641 shares in the last quarter. 43.35% of the stock is owned by institutional investors and hedge funds.

Cognition Therapeutics Trading Up 1.8%

Shares of CGTX stock traded up $0.02 on Thursday, hitting $0.92. The stock had a trading volume of 59,100 shares, compared to its average volume of 1,220,692. The firm has a market cap of $82.07 million, a P/E ratio of -3.80 and a beta of 1.75. Cognition Therapeutics has a twelve month low of $0.55 and a twelve month high of $3.83. The company has a fifty day moving average price of $1.16 and a two-hundred day moving average price of $1.14.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. On average, analysts expect that Cognition Therapeutics will post -0.32 earnings per share for the current year.

Cognition Therapeutics Company Profile

Cognition Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing disease-modifying therapies for neurodegenerative disorders, with an emphasis on Alzheimer's disease. The company's lead investigational candidate, CT1812, is an oral small molecule that antagonizes the sigma-2 receptor complex to protect synapses from amyloid-beta oligomer toxicity. By targeting a novel mechanism of action, Cognition Therapeutics aims to slow or reverse cognitive decline in patients living with Alzheimer's disease.

CT1812 has successfully completed Phase 1 safety studies and preliminary Phase 2a trials, and is currently being evaluated in multiple Phase 2 clinical studies across North America and Europe in patients with mild-to-moderate Alzheimer's disease.

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