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

Cognition Therapeutics (NASDAQ:CGTX)‘s stock had its “buy” rating reiterated by investment analysts at Chardan Capital in a research report issued on Thursday, Benzinga reports. They presently have a $11.00 price objective on the stock.

CGTX has been the topic of a number of other reports. B. Riley restated a “neutral” rating and issued a $1.00 target price (down from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. HC Wainwright decreased their target price on Cognition Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Cantor Fitzgerald lowered Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Cognition Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Cognition Therapeutics Stock Performance

NASDAQ:CGTX opened at $0.47 on Thursday. Cognition Therapeutics has a 52-week low of $0.34 and a 52-week high of $2.95. The firm has a market cap of $18.90 million, a price-to-earnings ratio of -0.50 and a beta of 1.36. The business’s fifty day moving average is $0.53 and its 200 day moving average is $1.31.

Cognition Therapeutics (NASDAQ:CGTX) last released its quarterly earnings data 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 period in the prior year, the business earned ($0.16) EPS. Equities analysts predict that Cognition Therapeutics will post -0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Cognition Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. CM Management LLC boosted its holdings in shares of Cognition Therapeutics by 14.3% in the 2nd quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after purchasing an additional 25,000 shares in the last quarter. Levin Capital Strategies L.P. purchased a new position in shares of Cognition Therapeutics in the 1st quarter worth about $55,000. Hohimer Wealth Management LLC purchased a new stake in Cognition Therapeutics during the 1st quarter valued at about $410,000. Tocqueville Asset Management L.P. purchased a new stake in Cognition Therapeutics during the 1st quarter valued at about $47,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Cognition Therapeutics by 33.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock valued at $159,000 after acquiring an additional 24,050 shares during the period. 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.