Alpha Cognition’s (ACOG) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Alpha Cognition (NASDAQ:ACOG) in a research note published on Monday morning,Benzinga reports. The firm currently has a $18.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Craig Hallum began coverage on Alpha Cognition in a report on Friday, April 17th. They issued a “buy” rating and a $14.00 price objective for the company. Wall Street Zen upgraded Alpha Cognition from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Alpha Cognition has an average rating of “Buy” and a consensus target price of $16.00.

Alpha Cognition Trading Down 6.3%

ACOG opened at $6.43 on Monday. The stock has a 50-day moving average price of $6.04 and a 200-day moving average price of $6.00. Alpha Cognition has a 12-month low of $4.50 and a 12-month high of $11.54. The stock has a market capitalization of $140.01 million, a P/E ratio of -5.54 and a beta of 2.51.

Alpha Cognition (NASDAQ:ACOG) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). Alpha Cognition had a negative return on equity of 55.71% and a negative net margin of 202.23%.The firm had revenue of $2.60 million during the quarter, compared to analysts’ expectations of $4.41 million. On average, equities research analysts predict that Alpha Cognition will post -1.34 EPS for the current year.

Institutional Trading of Alpha Cognition

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ikarian Capital LLC lifted its position in Alpha Cognition by 11.6% in the fourth quarter. Ikarian Capital LLC now owns 1,056,259 shares of the company’s stock valued at $6,866,000 after purchasing an additional 110,000 shares during the last quarter. Sphera Funds Management LTD. lifted its position in Alpha Cognition by 67.6% in the fourth quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company’s stock valued at $3,690,000 after purchasing an additional 228,864 shares during the last quarter. Opaleye Management Inc. lifted its position in Alpha Cognition by 1,698.5% in the fourth quarter. Opaleye Management Inc. now owns 2,070,784 shares of the company’s stock valued at $13,460,000 after purchasing an additional 1,955,642 shares during the last quarter. ACT Capital Management LLC bought a new stake in Alpha Cognition in the fourth quarter valued at approximately $335,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in Alpha Cognition in the 4th quarter worth approximately $1,062,000.

Alpha Cognition Company Profile

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.