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

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have earned a consensus rating of “Moderate Buy” from the four brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $3.3333.

Several research firms recently weighed in on CGTX. upgraded Cognition Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Cognition Therapeutics in a research report on Thursday, December 4th. Chardan Capital reissued a “buy” rating and issued a $4.00 target price on shares of Cognition Therapeutics in a research note on Friday, March 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cognition Therapeutics in a report on Friday, March 27th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. DAVENPORT & Co LLC purchased a new stake in shares of Cognition Therapeutics in the third quarter worth approximately $3,631,000. Chescapmanager LLC boosted its holdings in Cognition Therapeutics by 98.1% during the 3rd quarter. Chescapmanager LLC now owns 997,029 shares of the company’s stock valued at $1,346,000 after acquiring an additional 493,770 shares during the period. Private Management Group Inc. purchased a new position in Cognition Therapeutics during the 3rd quarter valued at $32,000. Gamco Investors INC. ET AL bought a new position in Cognition Therapeutics in the 3rd quarter valued at $27,000. Finally, Essex Financial Services Inc. purchased a new stake in Cognition Therapeutics in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Price Performance

Shares of CGTX opened at $0.87 on Friday. The firm has a market cap of $77.56 million, a P/E ratio of -2.63 and a beta of 1.39. Cognition Therapeutics has a 1 year low of $0.22 and a 1 year high of $3.83. The company has a 50 day simple moving average of $1.08 and a two-hundred day simple moving average of $1.39.

Cognition Therapeutics (NASDAQ:CGTX) last released its earnings results on Thursday, March 26th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. On average, sell-side analysts anticipate that Cognition Therapeutics will post -0.8 earnings per share for the current year.

About Cognition Therapeutics

Cognition Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing disease-modifying therapies for neurodegenerative disorders, with an emphasis on Alzheimer’s disease. The company’s lead investigational candidate, CT1812, is an oral small molecule that antagonizes the sigma-2 receptor complex to protect synapses from amyloid-beta oligomer toxicity. By targeting a novel mechanism of action, Cognition Therapeutics aims to slow or reverse cognitive decline in patients living with Alzheimer’s disease.

CT1812 has successfully completed Phase 1 safety studies and preliminary Phase 2a trials, and is currently being evaluated in multiple Phase 2 clinical studies across North America and Europe in patients with mild-to-moderate Alzheimer’s disease.