HC Wainwright Initiates Coverage on Alpha Cognition (NASDAQ:ACOG)

Analysts at HC Wainwright started coverage on shares of Alpha Cognition (NASDAQ:ACOG) in a report released on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 250.88% from the company’s previous close.

Alpha Cognition Price Performance

Shares of ACOG opened at $5.70 on Tuesday. The firm has a market cap of $91.31 million, a P/E ratio of -2.23 and a beta of 2.50. Alpha Cognition has a 12 month low of $4.66 and a 12 month high of $7.00. The stock’s 50-day moving average is $5.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ACOG. Solas Capital Management LLC acquired a new position in Alpha Cognition during the 4th quarter worth about $8,096,000. Sphera Funds Management LTD. acquired a new position in shares of Alpha Cognition in the 4th quarter valued at about $3,652,000. Alyeska Investment Group L.P. acquired a new position in shares of Alpha Cognition in the 4th quarter valued at about $2,356,000. Altium Capital Management LLC acquired a new position in shares of Alpha Cognition in the 4th quarter valued at about $1,620,000. Finally, Rosalind Advisors Inc. acquired a new position in shares of Alpha Cognition in the 4th quarter valued at about $1,489,000.

Alpha Cognition Company Profile

Alpha Cognition, Inc is a clinical stage biopharmaceutical company that develops treatments for underserved neurodegenerative diseases such as Alzheimer’s Dementia and Amyotrophic Lateral Sclerosis. The company was founded in 2000 and is headquartered in Vancouver, Canada.