Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives $8.30 Average Price Target from Brokerages

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has been assigned a consensus rating of “Buy” from the seven research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $8.30.

A number of analysts have recently commented on the company. Brookline Capital Management raised Cognition Therapeutics to a “strong-buy” rating in a research report on Monday, January 27th. Chardan Capital reissued a “buy” rating and issued a $11.00 price target on shares of Cognition Therapeutics in a research report on Thursday, December 19th. HC Wainwright boosted their price target on Cognition Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, B. Riley raised Cognition Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $1.00 to $1.50 in a research report on Thursday, December 19th.

Cognition Therapeutics Stock Performance

Cognition Therapeutics stock opened at $0.59 on Wednesday. The stock’s 50 day simple moving average is $0.67 and its two-hundred day simple moving average is $0.60. The stock has a market cap of $24.52 million, a price-to-earnings ratio of -0.61 and a beta of 0.96. Cognition Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $2.95.

Hedge Funds Weigh In On Cognition Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Voss Capital LP purchased a new stake in Cognition Therapeutics during the 4th quarter valued at $351,000. Geode Capital Management LLC raised its stake in Cognition Therapeutics by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 352,348 shares of the company’s stock valued at $247,000 after buying an additional 28,705 shares during the last quarter. Virtu Financial LLC raised its stake in Cognition Therapeutics by 40.1% during the 4th quarter. Virtu Financial LLC now owns 80,180 shares of the company’s stock valued at $56,000 after buying an additional 22,949 shares during the last quarter. BIOS Capital Management LP purchased a new stake in Cognition Therapeutics during the 4th quarter valued at $4,208,000. Finally, Sigma Planning Corp raised its stake in Cognition Therapeutics by 211.6% during the 4th quarter. Sigma Planning Corp now owns 614,490 shares of the company’s stock valued at $431,000 after buying an additional 417,300 shares during the last quarter. 43.35% of the stock is currently owned by hedge funds and other 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.