HC Wainwright Forecasts Strong Price Appreciation for Alpha Cognition (NASDAQ:ACOG) Stock

Key Points

• HC Wainwright raised Alpha Cognition’s price target to $20 from $18 and maintained a “Buy” rating, implying 127.53% potential upside from the stock’s $8.79 price. Analysts collectively maintain a “Buy” consensus with a $17.25 average target.
• Alpha Cognition reported a quarterly loss of $0.40 per share, slightly missing estimates, while revenue of $6.0 million exceeded expectations of $4.38 million. Analysts project a full-year loss of $1.37 per share.
• Several institutional investors increased or initiated positions in the company during the second quarter, including Cable Car Capital, which raised its holdings by 68.8%, and Manatuck Hill Partners, which increased its stake by 74.6%.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) had its target price upped by analysts at HC Wainwright from $18.00 to $20.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 127.53% from the stock's current price.

A number of other equities analysts have also recently commented on the stock. Craig Hallum reissued a "buy" rating and issued a $17.00 price objective on shares of Alpha Cognition in a research note on Friday. Maxim Group initiated coverage on shares of Alpha Cognition in a research report on Friday, May 29th. They set a "buy" rating and a $12.00 target price on the stock. Wall Street Zen raised shares of Alpha Cognition from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Raymond James Financial began coverage on Alpha Cognition in a report on Friday, July 10th. They issued an "outperform" rating and a $20.00 target price for the company. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $17.25.

Alpha Cognition Price Performance

Shares of NASDAQ ACOG traded down $0.05 during midday trading on Monday, reaching $8.79. 189,619 shares of the stock traded hands, compared to its average volume of 65,808. The stock has a market capitalization of $191.36 million, a PE ratio of -7.99 and a beta of 2.30. Alpha Cognition has a one year low of $4.50 and a one year high of $10.00. The company's 50 day moving average is $7.74 and its 200 day moving average is $6.52.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.01). The business had revenue of $6.00 million during the quarter, compared to analysts' expectations of $4.38 million. Alpha Cognition had a negative net margin of 153.61% and a negative return on equity of 54.60%. As a group, equities analysts forecast that Alpha Cognition will post -1.37 EPS for the current year.

Institutional Trading of Alpha Cognition

Several hedge funds have recently modified their holdings of ACOG. Geode Capital Management LLC purchased a new stake in Alpha Cognition during the second quarter valued at approximately $112,000. Marshall Wace LLP acquired a new position in shares of Alpha Cognition during the second quarter worth $600,000. Cable Car Capital LP increased its position in shares of Alpha Cognition by 68.8% during the second quarter. Cable Car Capital LP now owns 869,002 shares of the company's stock worth $8,108,000 after purchasing an additional 354,278 shares in the last quarter. Massar Capital Management LP acquired a new position in shares of Alpha Cognition during the second quarter worth $116,000. Finally, Manatuck Hill Partners LLC lifted its holdings in shares of Alpha Cognition by 74.6% during the 2nd quarter. Manatuck Hill Partners LLC now owns 117,000 shares of the company's stock valued at $1,092,000 after purchasing an additional 50,000 shares during the last quarter.

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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