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

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has received a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $6.13.

A number of analysts recently issued reports on the company. Chardan Capital lowered their target price on Cognition Therapeutics from $8.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. HC Wainwright decreased their price target on shares of Cognition Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Brookline Capital Management raised shares of Cognition Therapeutics to a “strong-buy” rating in a research note on Monday, January 27th.

Cognition Therapeutics Stock Performance

CGTX opened at $0.32 on Friday. The firm’s 50-day simple moving average is $0.38 and its 200-day simple moving average is $0.51. Cognition Therapeutics has a twelve month low of $0.28 and a twelve month high of $2.95. The firm has a market cap of $19.53 million, a price-to-earnings ratio of -0.32 and a beta of 1.00.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). As a group, sell-side analysts anticipate that Cognition Therapeutics will post -0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Cognition Therapeutics in the fourth quarter valued at about $26,000. Sigma Planning Corp grew its holdings in shares of Cognition Therapeutics by 211.6% during the fourth quarter. Sigma Planning Corp now owns 614,490 shares of the company’s stock worth $431,000 after purchasing an additional 417,300 shares during the last quarter. BIOS Capital Management LP bought a new stake in shares of Cognition Therapeutics during the fourth quarter worth about $4,208,000. Virtu Financial LLC grew its holdings in shares of Cognition Therapeutics by 40.1% during the fourth quarter. Virtu Financial LLC now owns 80,180 shares of the company’s stock worth $56,000 after purchasing an additional 22,949 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Cognition Therapeutics by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock worth $247,000 after purchasing an additional 28,705 shares during the last quarter. Institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Company Profile

Cognition Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina. Its lead product candidate is CT1812, an orally delivered molecule modulator designed to penetrate the blood-brain barrier and bind selectively to the S2R complex, which is in Phase 2 clinical trial for the treatment of Alzheimer's disease, as well as geographic atrophy secondary to dry age-related macular degeneration and synucleinopathies, such as dementia with Lewy bodies.