Wall Street Zen Downgrades Alpha Cognition (NASDAQ:ACOG) to Sell

Key Points

• Wall Street Zen downgraded Alpha Cognition (NASDAQ:ACOG) from "hold" to a "sell", a notable negative signal that contrasts with other firms' bullish views (two analysts rate it Buy and the average target is $16.00).
• Shares traded near $5.95 with a market cap of about $129.5M; the company reported Q1 EPS of ($0.30) versus ($0.27) expected and revenue of $2.6M versus $4.41M expected, leaving deep negative margins and analysts forecasting roughly -1.34 EPS for the year.
• Several institutional investors (including Berkshire Asset Management, Villere St Denis, Geode and others) have recently added or initiated modest stakes in the stock.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Other equities research analysts have also recently issued reports about the company. Craig Hallum started coverage on Alpha Cognition in a research note on Friday, April 17th. They issued a "buy" rating and a $14.00 price target for the company. HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Alpha Cognition in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $16.00.

Alpha Cognition Trading Down 0.3%

Shares of ACOG stock opened at $5.95 on Friday. The stock has a market cap of $129.53 million, a P/E ratio of -5.13 and a beta of 2.39. The stock has a 50 day simple moving average of $6.06 and a 200 day simple moving average of $5.99. Alpha Cognition has a 1 year low of $4.50 and a 1 year high of $11.54.

Alpha Cognition (NASDAQ:ACOG - Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The company had revenue of $2.60 million during the quarter, compared to the consensus estimate of $4.41 million. Alpha Cognition had a negative net margin of 202.23% and a negative return on equity of 55.71%. Analysts forecast that Alpha Cognition will post -1.34 EPS for the current year.

Institutional Investors Weigh In On Alpha Cognition

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Berkshire Asset Management LLC PA lifted its stake in Alpha Cognition by 50.7% during the third quarter. Berkshire Asset Management LLC PA now owns 17,824 shares of the company's stock worth $116,000 after purchasing an additional 6,000 shares during the last quarter. Villere ST Denis J & Co. LLC lifted its stake in Alpha Cognition by 13.2% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 73,875 shares of the company's stock worth $480,000 after purchasing an additional 8,617 shares during the last quarter. Green Alpha Advisors LLC bought a new stake in Alpha Cognition during the fourth quarter worth $72,000. Geode Capital Management LLC bought a new stake in Alpha Cognition during the second quarter worth $112,000. Finally, Massar Capital Management LP bought a new stake in Alpha Cognition during the second quarter worth $116,000.

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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