Cognition Therapeutics, Inc. (NASDAQ:CGTX) Stock Has Average Target Price of $3.33

Key Points

• Analysts hold a “Moderate Buy” consensus on Cognition Therapeutics, with three buy ratings and one sell rating. The average 12-month price target is $3.33, well above the recently reported $0.89 share price.
• Institutional ownership stands at 43.35%, with BlackRock and several other investors acquiring or increasing positions during the second quarter.
• CGTX shares rose 4% to $0.89, but remain well below their 52-week high of $2.00. The clinical-stage biotech recently beat quarterly earnings estimates, reporting a loss of $0.04 per share versus the expected $0.06 loss.

Cognition Therapeutics, Inc. (NASDAQ:CGTX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the four analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $3.33.

Several analysts have commented on CGTX shares. HC Wainwright reissued a "buy" rating on shares of Cognition Therapeutics in a research report on Monday, October 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cognition Therapeutics in a research report on Monday, September 21st. Finally, Wall Street Zen lowered shares of Cognition Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th.

Institutional Investors Weigh In On Cognition Therapeutics

Several institutional investors have recently bought and sold shares of the company. Sigma Planning Corp increased its position in shares of Cognition Therapeutics by 7.3% during the second quarter. Sigma Planning Corp now owns 362,265 shares of the company's stock worth $417,000 after purchasing an additional 24,500 shares in the last quarter. Corient Private Wealth LP purchased a new stake in shares of Cognition Therapeutics during the 2nd quarter valued at $93,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Cognition Therapeutics in the 2nd quarter worth $369,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Cognition Therapeutics in the 2nd quarter worth $165,000. Finally, BlackRock Inc. acquired a new stake in shares of Cognition Therapeutics in the 2nd quarter worth $1,451,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.

Cognition Therapeutics Stock Up 4.0%

Shares of NASDAQ CGTX traded up $0.03 during mid-day trading on Tuesday, reaching $0.89. 2,308,070 shares of the company were exchanged, compared to its average volume of 1,029,535. The stock has a market cap of $84.73 million, a price-to-earnings ratio of -5.26 and a beta of 1.80. Cognition Therapeutics has a 1 year low of $0.55 and a 1 year high of $2.00. The firm has a 50-day moving average of $1.00 and a 200 day moving average of $1.07.

Cognition Therapeutics (NASDAQ:CGTX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. On average, equities analysts forecast that Cognition Therapeutics will post -0.30 earnings per share for the current year.

Cognition Therapeutics Company Profile

Cognition Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurodegenerative diseases that affect memory, cognition and behavior. The company's research centers on drug candidates designed to protect or restore synaptic function, which is important for communication between nerve cells.

Cognition Therapeutics' lead investigational product is CT1812, an orally administered, brain-penetrant small molecule designed to modulate the sigma-2 receptor complex.

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