Alpha Cognition (NASDAQ:ACOG) Upgraded by Raymond James Financial to Moderate Buy Rating

Alpha Cognition (NASDAQ:ACOG) was upgraded by Raymond James Financial to a “moderate buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

A number of other research firms have also commented on ACOG. Maxim Group began coverage on Alpha Cognition in a research report on Friday, May 29th. They issued a “buy” rating and a $12.00 price target on the stock. Wall Street Zen downgraded Alpha Cognition from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Craig Hallum began coverage on Alpha Cognition in a research note on Friday, April 17th. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Alpha Cognition in a report on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $16.00.

Alpha Cognition Stock Performance

Shares of NASDAQ:ACOG opened at $8.41 on Friday. Alpha Cognition has a 52 week low of $4.50 and a 52 week high of $11.20. The firm has a market cap of $183.09 million, a PE ratio of -6.23 and a beta of 2.32. The firm’s fifty day moving average is $6.47 and its 200-day moving average is $6.11.

Alpha Cognition (NASDAQ:ACOG) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.04. The business had revenue of $3.53 million during the quarter, compared to the consensus estimate of $3.42 million. Alpha Cognition had a negative return on equity of 58.35% and a negative net margin of 232.23%. Sell-side analysts forecast that Alpha Cognition will post -1.34 EPS for the current year.

Hedge Funds Weigh In On Alpha Cognition

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sphera Funds Management LTD. boosted its position in Alpha Cognition by 67.6% during the fourth quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company’s stock valued at $3,690,000 after acquiring an additional 228,864 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Alpha Cognition in the 4th quarter worth about $2,372,000. Boothbay Fund Management LLC lifted its stake in shares of Alpha Cognition by 10.8% in the 3rd quarter. Boothbay Fund Management LLC now owns 291,868 shares of the company’s stock valued at $1,900,000 after purchasing an additional 28,392 shares during the period. Aristides Capital LLC lifted its stake in shares of Alpha Cognition by 30.2% in the 4th quarter. Aristides Capital LLC now owns 215,458 shares of the company’s stock valued at $1,400,000 after purchasing an additional 50,000 shares during the period. Finally, Manatuck Hill Partners LLC boosted its position in shares of Alpha Cognition by 74.6% during the 2nd quarter. Manatuck Hill Partners LLC now owns 117,000 shares of the company’s stock valued at $1,092,000 after purchasing an additional 50,000 shares in the last quarter.

About Alpha Cognition

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.