Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $3.3333.

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Cognition Therapeutics in a research note on Monday, December 29th. B. Riley Financial reiterated a “buy” rating and issued a $3.00 price objective (up previously from $2.00) on shares of Cognition Therapeutics in a research report on Friday, November 21st. Wall Street Zen upgraded Cognition Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Brookline Capital Acquisition raised shares of Cognition Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $3.00 price target on shares of Cognition Therapeutics in a report on Thursday, December 4th.

Cognition Therapeutics Stock Performance

Shares of CGTX stock opened at $1.10 on Thursday. The stock’s 50-day moving average is $1.41 and its two-hundred day moving average is $1.57. Cognition Therapeutics has a 1 year low of $0.22 and a 1 year high of $3.83. The firm has a market cap of $97.10 million, a price-to-earnings ratio of -2.29 and a beta of 1.25.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. DAVENPORT & Co LLC purchased a new position in Cognition Therapeutics during the third quarter worth approximately $3,631,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Cognition Therapeutics during the 4th quarter valued at $166,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cognition Therapeutics by 11,695.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,060,282 shares of the company’s stock worth $2,781,000 after buying an additional 2,042,815 shares during the last quarter. CM Management LLC purchased a new position in shares of Cognition Therapeutics in the 4th quarter worth $270,000. Finally, Sigma Planning Corp boosted its holdings in Cognition Therapeutics by 70.1% in the fourth quarter. Sigma Planning Corp now owns 216,165 shares of the company’s stock valued at $295,000 after acquiring an additional 89,075 shares during the last quarter. 43.35% of the stock is currently owned by hedge funds and other institutional investors.

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.