Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives $9.17 Average PT from Analysts

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $8.67.

CGTX has been the topic of a number of research reports. Cantor Fitzgerald lowered Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Tuesday. HC Wainwright decreased their target price on Cognition Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday. Chardan Capital initiated coverage on Cognition Therapeutics in a research note on Thursday, June 6th. They set a “buy” rating and a $11.00 price target for the company. Finally, Rodman & Renshaw reiterated a “buy” rating and set a $14.00 price target on shares of Cognition Therapeutics in a research note on Tuesday, July 2nd.

Institutional Trading of Cognition Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Tocqueville Asset Management L.P. purchased a new position in shares of Cognition Therapeutics during the 1st quarter valued at about $47,000. Sigma Planning Corp bought a new stake in shares of Cognition Therapeutics in the 4th quarter worth approximately $53,000. Levin Capital Strategies L.P. bought a new stake in shares of Cognition Therapeutics in the 1st quarter worth approximately $55,000. Bangor Savings Bank grew its position in shares of Cognition Therapeutics by 41.6% in the 2nd quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock worth $56,000 after buying an additional 10,000 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Cognition Therapeutics in the 4th quarter worth approximately $102,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

Cognition Therapeutics Price Performance

Shares of CGTX stock opened at $0.73 on Friday. The stock has a market capitalization of $29.19 million, a PE ratio of -0.79 and a beta of 1.46. Cognition Therapeutics has a one year low of $0.72 and a one year high of $2.95. The business’s 50 day simple moving average is $1.86 and its 200 day simple moving average is $1.98.

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

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.