Cognition Therapeutics (NASDAQ:CGTX) Issues Quarterly Earnings Results

Cognition Therapeutics (NASDAQ:CGTX) announced its quarterly earnings data on Thursday. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04, Zacks reports. During the same quarter in the prior year, the company posted ($0.16) earnings per share.

Cognition Therapeutics Price Performance

NASDAQ:CGTX traded down $0.04 during trading hours on Friday, hitting $0.55. The company’s stock had a trading volume of 740,127 shares, compared to its average volume of 476,138. The company has a market capitalization of $21.92 million, a P/E ratio of -0.59 and a beta of 1.46. Cognition Therapeutics has a twelve month low of $0.54 and a twelve month high of $2.95. The stock has a fifty day simple moving average of $1.71 and a 200-day simple moving average of $1.92.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. B. Riley restated a “neutral” rating and issued a $1.00 price target (down previously from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. Cantor Fitzgerald cut Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Chardan Capital assumed coverage on Cognition Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $11.00 price objective on the stock. Rodman & Renshaw reissued a “buy” rating and issued a $14.00 target price on shares of Cognition Therapeutics in a research report on Tuesday, July 2nd. Finally, HC Wainwright lowered their price target on shares of Cognition Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Cognition Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $8.00.

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.