Alpha Cognition Inc. (NASDAQ:ACOG) Stock Has Average Price Target of $18.00

Alpha Cognition Inc. (NASDAQ:ACOG) has been given an average rating of “Buy” by the five brokerages that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued a report on the stock in the last year is $18.00.

Several research analysts have issued reports on ACOG shares. B. Riley Financial assumed coverage on Alpha Cognition in a report on Thursday, August 20th. They set a “buy” rating and a $21.00 price objective on the stock. Raymond James Financial began coverage on Alpha Cognition in a research note on Friday, July 10th. They issued an “outperform” rating and a $20.00 target price for the company. Wall Street Zen upgraded Alpha Cognition from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Craig Hallum reaffirmed a “buy” rating and set a $17.00 price target on shares of Alpha Cognition in a research note on Friday, August 14th. Finally, HC Wainwright upped their price target on Alpha Cognition from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 17th.

Insiders Place Their Bets

In other news, Director Robert Wills acquired 10,000 shares of the company’s stock in a transaction on Friday, August 21st. The stock was purchased at an average cost of $9.62 per share, with a total value of $96,200.00. Following the acquisition, the director owned 32,241 shares of the company’s stock, valued at $310,158.42. This trade represents a 44.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Opaleye Management Inc. grew its position in shares of Alpha Cognition by 13.0% during the 2nd quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company’s stock worth $20,905,000 after buying an additional 333,517 shares during the period. AWM Investment Company Inc. bought a new stake in shares of Alpha Cognition during the second quarter worth approximately $12,073,000. Aristides Capital LLC raised its stake in shares of Alpha Cognition by 1.4% during the first quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock worth $1,200,000 after buying an additional 3,052 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new position in Alpha Cognition in the third quarter valued at approximately $210,000.

Alpha Cognition Trading Up 4.0%

Shares of ACOG stock opened at $8.53 on Monday. Alpha Cognition has a 1 year low of $4.50 and a 1 year high of $10.14. The firm’s 50 day moving average is $8.85 and its 200-day moving average is $7.19.

Alpha Cognition (NASDAQ:ACOG) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.01). Alpha Cognition had a negative net margin of 153.61% and a negative return on equity of 54.60%. The company had revenue of $6.00 million for the quarter, compared to the consensus estimate of $4.38 million. Equities research analysts anticipate that Alpha Cognition will post -1.38 earnings per share for the current fiscal year.

About Alpha Cognition

Alpha Cognition Inc is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative diseases and cognitive disorders. The company’s work is centered on therapies intended to address the medical needs of patients with Alzheimer’s disease and other conditions affecting cognition.

Its lead commercial product is ZUNOVO (galantamine hydrobromide) extended-release capsules, an orally administered treatment approved by the U.S. Food and Drug Administration for mild-to-moderate dementia of the Alzheimer’s type.