Cognition Therapeutics (NASDAQ:CGTX) Receives Buy Rating from Chardan Capital

Key Points

• Chardan Capital reaffirmed a Buy rating with a $4.00 target, implying roughly 270% upside; MarketBeat shows an average rating of Moderate Buy and an average target of $3.33 (three Buys, one Sell).
• Cognition is a clinical-stage biopharma focused on Alzheimer's, and its lead candidate, CT1812, has completed Phase 1 and Phase 2a work and is currently being evaluated in multiple Phase 2 trials in North America and Europe.
• Shares opened at $1.08 with a market cap of about $95M, were trading down ~2.7%, have a 52-week range of $0.22–$3.83, and roughly 43% of the stock is held by institutional investors after recent fund buying activity.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Chardan Capital in a note issued to investors on Friday,Benzinga reports. They presently have a $4.00 target price on the stock. Chardan Capital's target price suggests a potential upside of 270.37% from the stock's previous close.

Several other equities research analysts also recently issued reports on CGTX. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cognition Therapeutics in a research report on Monday, December 29th. raised Cognition Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 3rd. Finally, HC Wainwright restated a "buy" rating and set a $3.00 target price on shares of Cognition Therapeutics in a research note on Thursday, December 4th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cognition Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $3.33.

Cognition Therapeutics Trading Down 2.7%

NASDAQ:CGTX opened at $1.08 on Friday. The firm has a market capitalization of $95.33 million, a PE ratio of -2.25 and a beta of 1.25. Cognition Therapeutics has a 1 year low of $0.22 and a 1 year high of $3.83. The firm's fifty day simple moving average is $1.14 and its 200 day simple moving average is $1.45.

Institutional Trading of Cognition Therapeutics

A number of hedge funds have recently bought and sold shares of CGTX. Raymond James Financial Inc. raised its position in Cognition Therapeutics by 34.7% in the third quarter. Raymond James Financial Inc. now owns 29,641 shares of the company's stock worth $40,000 after purchasing an additional 7,641 shares in the last quarter. Bryn Mawr Trust Advisors LLC boosted its holdings in Cognition Therapeutics by 69.1% during the third quarter. Bryn Mawr Trust Advisors LLC now owns 39,466 shares of the company's stock valued at $53,000 after purchasing an additional 16,129 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Cognition Therapeutics in the 3rd quarter valued at approximately $25,000. Essex Financial Services Inc. bought a new stake in shares of Cognition Therapeutics in the 4th quarter valued at approximately $27,000. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Cognition Therapeutics in the 3rd quarter worth approximately $27,000. 43.35% of the stock is owned by institutional investors.

About Cognition Therapeutics

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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