Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives Consensus Rating of “Moderate Buy” from Analysts

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has earned a consensus rating of “Moderate Buy” from the four research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $3.3333.

A number of analysts recently weighed in on the stock. Chardan Capital reissued a “buy” rating and issued a $4.00 price target on shares of Cognition Therapeutics in a report on Friday, March 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognition Therapeutics in a report on Friday, March 27th.

Hedge Funds Weigh In On Cognition Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CGTX. Jones Financial Companies Lllp bought a new stake in Cognition Therapeutics in the 3rd quarter valued at $25,000. Essex Financial Services Inc. bought a new stake in Cognition Therapeutics during the 4th quarter worth about $27,000. Gamco Investors INC. ET AL acquired a new position in shares of Cognition Therapeutics during the 3rd quarter worth about $27,000. Private Management Group Inc. acquired a new position in shares of Cognition Therapeutics during the 3rd quarter worth about $32,000. Finally, Marshall Wace LLP acquired a new position in shares of Cognition Therapeutics during the 4th quarter worth about $37,000. 43.35% of the stock is owned by institutional investors.

Cognition Therapeutics Trading Down 5.0%

NASDAQ:CGTX opened at $1.15 on Wednesday. Cognition Therapeutics has a 1 year low of $0.25 and a 1 year high of $3.83. The firm has a 50 day moving average of $1.13 and a 200-day moving average of $1.25. The stock has a market capitalization of $102.93 million, a P/E ratio of -4.79 and a beta of 1.75.

Cognition Therapeutics (NASDAQ:CGTX) last posted its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. As a group, analysts forecast that Cognition Therapeutics will post -0.32 EPS for the current fiscal year.

About Cognition Therapeutics

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.