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

Key Points

• Alpha Cognition has a consensus “Buy” rating from five covering brokerages, with an average 12-month price target of $18.00 versus shares opening at $9.04.
• The company reported quarterly revenue of $6.00 million, exceeding the $4.38 million consensus estimate, but its adjusted loss of $0.40 per share narrowly missed expectations.
• Director Robert Wills purchased 10,000 shares, while several institutional investors increased or initiated positions; insiders currently own 8.6% of the company.

Shares of Alpha Cognition Inc. (NASDAQ:ACOG - Get Free Report) have earned a consensus rating of "Buy" from the five brokerages that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is $18.00.

ACOG has been the topic of several recent research reports. Wall Street Zen upgraded Alpha Cognition from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. B. Riley Financial initiated coverage on Alpha Cognition in a research report on Thursday, August 20th. They issued a "buy" rating and a $21.00 price objective for the company. Raymond James Financial started coverage on Alpha Cognition in a research note on Friday, July 10th. They set an "outperform" rating and a $20.00 price objective for the company. Craig Hallum restated a "buy" rating and issued a $17.00 target price on shares of Alpha Cognition in a report on Friday, August 14th. Finally, HC Wainwright lifted 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.

Alpha Cognition Stock Up 0.7%

Shares of NASDAQ:ACOG opened at $9.04 on Thursday. The stock has a market cap of $196.89 million, a PE ratio of -8.22 and a beta of 2.32. The company's fifty day moving average is $8.99 and its 200 day moving average is $7.47. 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 announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.01). The company had revenue of $6.00 million for the quarter, compared to the consensus estimate of $4.38 million. Alpha Cognition had a negative net margin of 153.61% and a negative return on equity of 54.60%. Sell-side analysts anticipate that Alpha Cognition will post -1.38 EPS for the current year.

Insider Transactions at Alpha Cognition

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

Hedge Funds Weigh In On Alpha Cognition

Hedge funds and other institutional investors have recently modified their holdings of the company. Opaleye Management Inc. grew its stake in shares of Alpha Cognition by 13.0% in the second quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company's stock worth $20,905,000 after purchasing an additional 333,517 shares during the last quarter. AWM Investment Company Inc. bought a new position in Alpha Cognition during the 2nd quarter valued at approximately $12,073,000. Aristides Capital LLC lifted its holdings in Alpha Cognition by 1.4% in the 1st quarter. Aristides Capital LLC now owns 218,510 shares of the company's stock worth $1,200,000 after buying an additional 3,052 shares during the period. Finally, ACT Capital Management LLC purchased a new stake in Alpha Cognition in the 4th quarter worth approximately $335,000.

Alpha Cognition Company Profile

Alpha Cognition Inc NASDAQ: ACOG is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative disorders, including Alzheimer's disease and related cognitive conditions. The company's work is centered on addressing unmet needs in the diagnosis, management and treatment of diseases that affect memory and cognitive function.

Its lead commercial product is ZUNOVO (memantine hydrochloride extended-release capsules), a prescription therapy approved by the U.S.

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