HC Wainwright Reiterates Buy Rating for Cognition Therapeutics (NASDAQ:CGTX)

Cognition Therapeutics (NASDAQ:CGTX)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They presently have a $5.00 target price on the stock.

Several other equities research analysts also recently weighed in on CGTX. B. Riley reissued a “neutral” rating and issued a $1.00 target price (down previously from $5.00) on shares of Cognition Therapeutics in a research report on Tuesday, August 6th. Chardan Capital reissued a “buy” rating and issued a $11.00 target price on shares of Cognition Therapeutics in a research report on Thursday. Finally, Cantor Fitzgerald downgraded shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Cognition Therapeutics has an average rating of “Moderate Buy” and an average target price of $8.00.

Cognition Therapeutics Price Performance

Cognition Therapeutics stock opened at $0.47 on Monday. Cognition Therapeutics has a 12-month low of $0.34 and a 12-month high of $2.95. The company has a market capitalization of $18.90 million, a price-to-earnings ratio of -0.50 and a beta of 1.34. The firm’s fifty day moving average price is $0.53 and its 200 day moving average price is $1.30.

Cognition Therapeutics (NASDAQ:CGTX) last released its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.04. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Analysts forecast that Cognition Therapeutics will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sigma Planning Corp boosted its holdings in shares of Cognition Therapeutics by 14.6% in the 3rd quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock valued at $92,000 after buying an additional 25,050 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Cognition Therapeutics by 33.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock valued at $159,000 after purchasing an additional 24,050 shares during the period. CM Management LLC boosted its stake in Cognition Therapeutics by 14.3% during the 2nd quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $332,000 after purchasing an additional 25,000 shares during the period. Bangor Savings Bank boosted its stake in Cognition Therapeutics by 41.6% during the 2nd quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock valued at $56,000 after purchasing an additional 10,000 shares during the period. Finally, Levin Capital Strategies L.P. acquired a new position in Cognition Therapeutics during the 1st quarter valued at about $55,000. 43.35% of the stock is owned by institutional investors and hedge funds.

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.