Chardan Capital Reiterates “Buy” Rating for Cognition Therapeutics (NASDAQ:CGTX)

Cognition Therapeutics (NASDAQ:CGTX)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a research note issued to investors on Thursday, Benzinga reports. They currently have a $11.00 price target on the stock.

Several other research analysts have also recently issued reports on CGTX. B. Riley reaffirmed a “neutral” rating and set a $1.00 target price (down previously from $5.00) on shares of Cognition Therapeutics in a research report on Tuesday, August 6th. HC Wainwright cut their price objective on Cognition Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Cantor Fitzgerald cut Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Cognition Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Cognition Therapeutics Price Performance

Shares of NASDAQ:CGTX opened at $0.47 on Thursday. The stock has a market cap of $18.90 million, a price-to-earnings ratio of -0.50 and a beta of 1.36. Cognition Therapeutics has a 12-month low of $0.34 and a 12-month high of $2.95. The business’s 50 day moving average is $0.53 and its 200 day moving average is $1.31.

Cognition Therapeutics (NASDAQ:CGTX) last announced its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. During the same period in the previous year, the firm posted ($0.16) EPS. As a group, equities research analysts expect that Cognition Therapeutics will post -0.96 earnings per share for the current year.

Institutional Trading of Cognition Therapeutics

Hedge funds have recently made changes to their positions in the company. Tocqueville Asset Management L.P. bought a new stake in shares of Cognition Therapeutics in the first quarter valued at $47,000. Levin Capital Strategies L.P. bought a new stake in shares of Cognition Therapeutics in the first quarter valued at $55,000. Bangor Savings Bank raised 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 valued at $56,000 after buying an additional 10,000 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Cognition Therapeutics by 33.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock valued at $159,000 after buying an additional 24,050 shares during the period. Finally, CM Management LLC bought a new stake in shares of Cognition Therapeutics in the first quarter valued at $318,000. 43.35% of the stock is currently owned by institutional investors.

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.