Alpha Cognition (NASDAQ:ACOG) Announces Earnings Results, Beats Estimates By $0.06 EPS

Alpha Cognition (NASDAQ:ACOG) announced its quarterly earnings data on Wednesday. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06, Zacks reports. Alpha Cognition had a negative net margin of 153.61% and a negative return on equity of 54.60%.

Alpha Cognition Price Performance

Shares of NASDAQ ACOG traded down $0.11 during trading on Wednesday, hitting $8.62. 121,090 shares of the company were exchanged, compared to its average volume of 82,055. The company has a market cap of $187.74 million, a price-to-earnings ratio of -7.84 and a beta of 2.32. Alpha Cognition has a 1 year low of $4.50 and a 1 year high of $10.14. The firm’s fifty day moving average price is $8.78 and its 200 day moving average price is $7.24.

Insider Buying and Selling at Alpha Cognition

In related news, Director Robert Wills purchased 10,000 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was acquired at an average price of $9.62 per share, for a total transaction of $96,200.00. Following the acquisition, the director directly owned 32,241 shares of the company’s stock, valued at $310,158.42. This trade represents a 44.96% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Alpha Cognition from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. HC Wainwright increased their price target on shares of Alpha Cognition from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, August 17th. B. Riley Financial started coverage on shares of Alpha Cognition in a research report on Thursday, August 20th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Craig Hallum restated a “buy” rating and issued a $17.00 price objective on shares of Alpha Cognition in a research report on Friday, August 14th. Five analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Alpha Cognition currently has an average rating of “Buy” and an average price target of $18.00.

Alpha Cognition Company Profile

Alpha Cognition Inc. is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative diseases and cognitive disorders. The company’s work is centered on therapies intended to address the medical needs of patients with Alzheimer’s disease and other conditions affecting cognition. Its lead commercial product is ZUNOVO (galantamine hydrobromide) extended-release capsules, an orally administered treatment approved by the U.S. Food and Drug Administration for mild-to-moderate dementia of the Alzheimer’s type.