HC Wainwright Issues Pessimistic Forecast for Cognition Therapeutics (NASDAQ:CGTX) Stock Price

Cognition Therapeutics (NASDAQ:CGTX) had its target price cut by HC Wainwright from $6.00 to $5.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on CGTX. Chardan Capital dropped their target price on shares of Cognition Therapeutics from $11.00 to $8.00 and set a “buy” rating for the company in a report on Friday. B. Riley upgraded shares of Cognition Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $1.00 to $1.50 in a research report on Thursday, December 19th. Finally, Brookline Capital Management upgraded Cognition Therapeutics to a “strong-buy” rating in a research report on Monday, January 27th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cognition Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $7.50.

Cognition Therapeutics Trading Up 7.7 %

CGTX stock opened at $0.49 on Monday. The company has a market cap of $20.35 million, a price-to-earnings ratio of -0.50 and a beta of 1.03. The firm has a 50 day moving average of $0.58 and a 200-day moving average of $0.55. Cognition Therapeutics has a 12-month low of $0.34 and a 12-month high of $2.95.

Cognition Therapeutics (NASDAQ:CGTX) last posted its earnings results on Thursday, March 20th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). During the same period in the prior year, the firm posted ($0.27) earnings per share. Sell-side analysts forecast that Cognition Therapeutics will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cognition Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CGTX. BIOS Capital Management LP purchased a new position in shares of Cognition Therapeutics during the fourth quarter valued at approximately $4,208,000. Sigma Planning Corp raised its holdings in Cognition Therapeutics by 211.6% in the 4th quarter. Sigma Planning Corp now owns 614,490 shares of the company’s stock valued at $431,000 after acquiring an additional 417,300 shares during the last quarter. Voss Capital LP purchased a new position in shares of Cognition Therapeutics during the 4th quarter worth $351,000. Geode Capital Management LLC boosted its holdings in shares of Cognition Therapeutics by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock worth $247,000 after purchasing an additional 28,705 shares during the last quarter. Finally, Virtu Financial LLC increased its stake in Cognition Therapeutics by 40.1% in the fourth quarter. Virtu Financial LLC now owns 80,180 shares of the company’s stock valued at $56,000 after purchasing an additional 22,949 shares during the last quarter. 43.35% of the stock is currently owned by hedge funds and other institutional investors.

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.