Cognition Therapeutics’ (CGTX) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Cognition Therapeutics (NASDAQ:CGTX) in a report published on Thursday, Benzinga reports. They currently have a $11.00 price target on the stock.

Several other analysts also recently weighed in on CGTX. 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 research note on Tuesday, July 30th. Finally, HC Wainwright lowered their price target on Cognition Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and four have assigned 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.

Cognition Therapeutics Stock Performance

Shares of Cognition Therapeutics stock opened at $0.47 on Thursday. Cognition Therapeutics has a 12 month low of $0.34 and a 12 month high of $2.95. The firm has a market capitalization of $18.90 million, a P/E ratio of -0.50 and a beta of 1.36. The business has a fifty day simple moving average of $0.53 and a two-hundred day simple moving average of $1.30.

Cognition Therapeutics (NASDAQ:CGTX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. During the same quarter in the previous year, the firm earned ($0.16) EPS. Analysts predict that Cognition Therapeutics will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CGTX. Tocqueville Asset Management L.P. bought a new stake in Cognition Therapeutics in the 1st quarter worth about $47,000. Levin Capital Strategies L.P. purchased a new stake in shares of Cognition Therapeutics during the 1st quarter valued at about $55,000. Bangor Savings Bank grew its stake in shares of Cognition Therapeutics by 41.6% in the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock worth $56,000 after acquiring an additional 10,000 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Cognition Therapeutics by 33.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock valued at $159,000 after purchasing an additional 24,050 shares during the last quarter. Finally, CM Management LLC bought a new position in Cognition Therapeutics during the first quarter valued at approximately $318,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

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.