Cognition Therapeutics (NASDAQ:CGTX) Releases Earnings Results

Cognition Therapeutics (NASDAQ:CGTX) issued its earnings results on Thursday. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.04, Zacks reports. During the same period in the previous year, the company posted ($0.16) earnings per share.

Cognition Therapeutics Stock Performance

Shares of Cognition Therapeutics stock traded down $0.04 during trading on Friday, reaching $0.55. The company had a trading volume of 740,127 shares, compared to its average volume of 476,138. Cognition Therapeutics has a fifty-two week low of $0.54 and a fifty-two week high of $2.95. The firm’s fifty day moving average is $1.71 and its 200-day moving average is $1.92. The company has a market cap of $21.92 million, a price-to-earnings ratio of -0.59 and a beta of 1.46.

Analyst Upgrades and Downgrades

CGTX has been the subject of a number of analyst reports. Rodman & Renshaw restated a “buy” rating and issued a $14.00 price target on shares of Cognition Therapeutics in a report on Tuesday, July 2nd. HC Wainwright decreased their target price on shares of Cognition Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. B. Riley reaffirmed a “neutral” rating and set a $1.00 price target (down previously from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. Chardan Capital began coverage on shares of Cognition Therapeutics in a research report on Thursday, June 6th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Cantor Fitzgerald downgraded Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cognition Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $8.00.

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.