Brokerages Set Cognition Therapeutics, Inc. (NASDAQ:CGTX) PT at $3.33

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have received an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $3.3333.

A number of analysts have commented on CGTX shares. Chardan Capital reiterated a “buy” rating and set a $4.00 target price on shares of Cognition Therapeutics in a research report on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognition Therapeutics in a research report on Tuesday, November 18th. B. Riley reissued a “buy” rating and issued a $3.00 price objective (up from $2.00) on shares of Cognition Therapeutics in a research note on Friday. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Cognition Therapeutics in a report on Wednesday, November 19th. Finally, Wall Street Zen raised Cognition Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th.

Cognition Therapeutics Trading Up 10.1%

Shares of Cognition Therapeutics stock opened at $1.53 on Friday. The company has a 50-day moving average of $1.60 and a two-hundred day moving average of $1.17. Cognition Therapeutics has a 12-month low of $0.22 and a 12-month high of $3.83. The stock has a market cap of $135.05 million, a PE ratio of -3.19 and a beta of 1.23.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. On average, sell-side analysts forecast that Cognition Therapeutics will post -0.8 EPS for the current fiscal year.

Institutional Trading of Cognition Therapeutics

A number of large investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. purchased a new stake in Cognition Therapeutics during the 3rd quarter worth about $138,000. Millennium Management LLC acquired a new stake in shares of Cognition Therapeutics during the 3rd quarter worth about $757,000. Chescapmanager LLC grew its holdings in shares of Cognition Therapeutics by 98.1% during the third quarter. Chescapmanager LLC now owns 997,029 shares of the company’s stock worth $1,346,000 after buying an additional 493,770 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Cognition Therapeutics by 34.7% in the third quarter. Raymond James Financial Inc. now owns 29,641 shares of the company’s stock valued at $40,000 after buying an additional 7,641 shares during the last quarter. Finally, Private Management Group Inc. acquired a new position in shares of Cognition Therapeutics in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 43.35% of the company’s stock.

About Cognition Therapeutics

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.