Alpha Cognition Inc. (NASDAQ:ACOG) Receives Average Rating of "Buy" from Brokerages

Key Points

• Analyst consensus is bullish: All five covering firms rate Alpha Cognition “Buy,” with an average 12-month price target of $18, roughly double the stock’s $8.90 opening price.
• Alpha Cognition reported quarterly revenue of $6.0 million, exceeding estimates of $4.38 million, but missed EPS expectations slightly and continues to post significant losses.
• Insider and institutional interest is growing: Director Robert Wills bought 10,000 shares, while several investment firms recently established new positions in the company.

Shares of Alpha Cognition Inc. (NASDAQ:ACOG - Get Free Report) have received an average rating of "Buy" from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have covered the stock in the last year is $18.00.

A number of research firms have commented on ACOG. HC Wainwright raised their target price on shares of Alpha Cognition from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. Raymond James Financial initiated coverage on shares of Alpha Cognition in a research report on Friday, July 10th. They issued an "outperform" rating and a $20.00 price target for the company. B. Riley Financial began coverage on shares of Alpha Cognition in a research note on Thursday, August 20th. They issued a "buy" rating and a $21.00 price objective for the company. Craig Hallum restated a "buy" rating and set a $17.00 price objective on shares of Alpha Cognition in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Alpha Cognition from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th.

Alpha Cognition Stock Performance

NASDAQ:ACOG opened at $8.90 on Friday. The stock has a 50-day simple moving average of $8.80 and a two-hundred day simple moving average of $7.08. The firm has a market capitalization of $193.84 million, a PE ratio of -8.09 and a beta of 2.32. 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 data on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.01). Alpha Cognition had a negative return on equity of 54.60% and a negative net margin of 153.61%.The company had revenue of $6.00 million during the quarter, compared to the consensus estimate of $4.38 million. Equities analysts forecast that Alpha Cognition will post -1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alpha Cognition news, Director Robert Wills purchased 10,000 shares of the firm's stock in a transaction on Friday, August 21st. The shares were acquired at an average cost of $9.62 per share, with a total value of $96,200.00. Following the completion of the acquisition, the director directly owned 32,241 shares in the company, valued at $310,158.42. The trade was a 44.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Alpha Cognition

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC bought a new stake in Alpha Cognition during the 2nd quarter valued at approximately $112,000. Massar Capital Management LP purchased a new stake in Alpha Cognition during the 2nd quarter valued at approximately $116,000. Two Sigma Investments LP purchased a new stake in Alpha Cognition during the 3rd quarter valued at approximately $148,000. Connective Capital Management LLC bought a new stake in shares of Alpha Cognition during the third quarter valued at approximately $312,000. Finally, ACT Capital Management LLC bought a new position in shares of Alpha Cognition during the fourth quarter worth $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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