Cognition Therapeutics (NASDAQ:CGTX) PT Lowered to $7.00

Cognition Therapeutics (NASDAQ:CGTX) had its price objective reduced by research analysts at HC Wainwright from $10.00 to $7.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Other equities analysts also recently issued reports about the company. Chardan Capital started coverage on Cognition Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $11.00 price objective for the company. Cantor Fitzgerald downgraded shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Tuesday. Finally, Rodman & Renshaw reissued a “buy” rating and set a $14.00 target price on shares of Cognition Therapeutics in a research note on Tuesday, July 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Cognition Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

Cognition Therapeutics Price Performance

Shares of NASDAQ CGTX opened at $1.00 on Thursday. The company has a 50 day simple moving average of $1.93 and a 200 day simple moving average of $2.00. Cognition Therapeutics has a 1 year low of $0.90 and a 1 year high of $2.95. The firm has a market cap of $40.06 million, a PE ratio of -1.09 and a beta of 1.47.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). As a group, research analysts anticipate that Cognition Therapeutics will post -0.97 earnings per share for the current fiscal year.

Institutional Trading of Cognition Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CGTX. Bangor Savings Bank increased its position in shares of Cognition Therapeutics by 41.6% during the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock valued at $56,000 after acquiring an additional 10,000 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Cognition Therapeutics during the 1st quarter worth $55,000. AWM Investment Company Inc. purchased a new position in shares of Cognition Therapeutics in the 1st quarter worth about $1,183,000. CM Management LLC bought a new position in Cognition Therapeutics during the first quarter valued at about $318,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in Cognition Therapeutics during the first quarter worth about $47,000. 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.