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

Alpha Cognition (NASDAQ:ACOG) had its price target upped by equities researchers at HC Wainwright from $18.00 to $20.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 127.53% from the company’s previous close.

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

Alpha Cognition Trading Down 0.6%

Shares of ACOG stock traded down $0.05 during trading hours on Monday, reaching $8.79. 189,619 shares of the company’s stock were exchanged, compared to its average volume of 65,808. Alpha Cognition has a 1 year low of $4.50 and a 1 year high of $10.00. The stock has a market cap of $191.36 million, a PE ratio of -7.99 and a beta of 2.30. The stock’s fifty day moving average price is $7.74 and its two-hundred day moving average price is $6.52.

Alpha Cognition (NASDAQ:ACOG) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.01). The company 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%. On average, equities analysts expect that Alpha Cognition will post -1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Alpha Cognition

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC purchased a new position in Alpha Cognition during the 2nd quarter worth approximately $112,000. Marshall Wace LLP purchased a new stake in shares of Alpha Cognition in the 2nd quarter valued at $600,000. Cable Car Capital LP boosted its holdings in shares of Alpha Cognition by 68.8% in the 2nd quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock valued at $8,108,000 after acquiring an additional 354,278 shares during the last quarter. Massar Capital Management LP acquired a new stake in shares of Alpha Cognition in the second quarter worth $116,000. Finally, Manatuck Hill Partners LLC increased its stake in shares of Alpha Cognition by 74.6% in the second quarter. Manatuck Hill Partners LLC now owns 117,000 shares of the company’s stock worth $1,092,000 after acquiring an additional 50,000 shares during the period.

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.