Cognition Therapeutics, Inc. (NASDAQ:CGTX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have received an average rating of “Moderate Buy” from the four brokerages that are covering the company, MarketBeat Ratings 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 target price among brokers that have updated their coverage on the stock in the last year is $3.3333.

Several brokerages have recently weighed in on CGTX. Wall Street Zen downgraded shares of Cognition Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. HC Wainwright reiterated a “buy” rating on shares of Cognition Therapeutics in a research note on Thursday, August 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Wednesday, June 24th.

Hedge Funds Weigh In On Cognition Therapeutics

A number of institutional investors have recently modified their holdings of the business. Essex Financial Services Inc. purchased a new stake in Cognition Therapeutics in the 4th quarter valued at $27,000. Gamco Investors INC. ET AL purchased a new position in Cognition Therapeutics during the 3rd quarter worth $27,000. Private Management Group Inc. purchased a new position in Cognition Therapeutics during the 3rd quarter worth $32,000. Bryn Mawr Trust Advisors LLC acquired a new position in Cognition Therapeutics in the second quarter valued at $33,000. Finally, Marshall Wace LLP purchased a new stake in shares of Cognition Therapeutics in the fourth quarter valued at about $37,000. 43.35% of the stock is owned by institutional investors and hedge funds.

Cognition Therapeutics Price Performance

Shares of Cognition Therapeutics stock traded down $0.03 on Monday, reaching $0.97. 58,504 shares of the company were exchanged, compared to its average volume of 1,154,216. Cognition Therapeutics has a 1-year low of $0.55 and a 1-year high of $3.83. The company has a market cap of $92.05 million, a P/E ratio of -5.72 and a beta of 1.78. The stock’s 50 day moving average price is $1.08 and its 200-day moving average price is $1.10.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. On average, research analysts predict that Cognition Therapeutics will post -0.3 earnings per share for the current fiscal year.

Cognition Therapeutics Company Profile

Cognition Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing disease-modifying therapies for neurodegenerative disorders, with an emphasis on Alzheimer’s disease. The company’s lead investigational candidate, CT1812, is an oral small molecule that antagonizes the sigma-2 receptor complex to protect synapses from amyloid-beta oligomer toxicity. By targeting a novel mechanism of action, Cognition Therapeutics aims to slow or reverse cognitive decline in patients living with Alzheimer’s disease.

CT1812 has successfully completed Phase 1 safety studies and preliminary Phase 2a trials, and is currently being evaluated in multiple Phase 2 clinical studies across North America and Europe in patients with mild-to-moderate Alzheimer’s disease.