Alpha Cognition Inc. (NASDAQ:ACOG) Stock Has Average Target Price of $18.00

Key Points

• Analyst sentiment is bullish: All five covering brokerages rate Alpha Cognition “Buy,” with an average 12-month price target of $18.00 versus the stock’s $8.74 opening price.
• Recent buying supports investor interest: Director Robert Wills purchased 10,000 shares, increasing his position by nearly 45%, while several institutional investors also added to their holdings.
• Financial performance remains challenged: Alpha Cognition missed quarterly EPS estimates, reported a $0.40 per-share loss and a negative net margin, despite revenue of $6.0 million exceeding expectations.

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

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

Insider Activity at Alpha Cognition

In related news, Director Robert Wills acquired 10,000 shares of Alpha Cognition stock in a transaction on Friday, August 21st. The stock was purchased at an average cost of $9.62 per share, with a total value of $96,200.00. Following the completion of the transaction, the director directly owned 32,241 shares in the company, valued at $310,158.42. This trade represents a 44.96% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Opaleye Management Inc. boosted 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 valued at $20,905,000 after purchasing an additional 333,517 shares in the last quarter. AWM Investment Company Inc. purchased a new position in shares of Alpha Cognition in the second quarter worth about $12,073,000. Finally, Aristides Capital LLC boosted its stake in Alpha Cognition by 1.4% during the 1st quarter. Aristides Capital LLC now owns 218,510 shares of the company's stock worth $1,200,000 after purchasing an additional 3,052 shares during the last quarter.

Alpha Cognition Price Performance

Shares of NASDAQ ACOG opened at $8.74 on Monday. The company's fifty day moving average is $8.93 and its 200-day moving average is $7.15. Alpha Cognition has a twelve month low of $4.50 and a twelve month high of $10.14. The stock has a market cap of $190.36 million, a price-to-earnings ratio of -7.95 and a beta of 2.32.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.01). The firm had revenue of $6.00 million for the quarter, compared to analyst estimates of $4.38 million. Alpha Cognition had a negative net margin of 153.61% and a negative return on equity of 54.60%. On average, research analysts anticipate that Alpha Cognition will post -1.38 EPS for the current fiscal year.

About Alpha Cognition

Alpha Cognition Inc is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative diseases and cognitive disorders. The company's work is centered on therapies intended to address the medical needs of patients with Alzheimer's disease and other conditions affecting cognition.

Its lead commercial product is ZUNOVO (galantamine hydrobromide) extended-release capsules, an orally administered treatment approved by the U.S. Food and Drug Administration for mild-to-moderate dementia of the Alzheimer's type.

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