Alpha Cognition Inc. (NASDAQ:ACOG) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Alpha Cognition Inc. (NASDAQ:ACOG) have earned an average rating of “Buy” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $18.00.

A number of brokerages have recently commented on ACOG. B. Riley Financial assumed coverage on shares of Alpha Cognition in a report on Thursday, August 20th. They set a “buy” rating and a $21.00 price target on the stock. Wall Street Zen upgraded shares of Alpha Cognition from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Maxim Group began coverage on shares of Alpha Cognition in a research report on Friday, May 29th. They issued a “buy” rating and a $12.00 price target on the stock. HC Wainwright raised their target price on Alpha Cognition from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Finally, Raymond James Financial began coverage on shares of Alpha Cognition in a report on Friday, July 10th. They set an “outperform” rating and a $20.00 price objective on the stock.

Alpha Cognition Stock Up 5.4%

NASDAQ:ACOG opened at $8.85 on Friday. Alpha Cognition has a twelve month low of $4.50 and a twelve month high of $10.14. The stock’s 50-day simple moving average is $8.83 and its 200 day simple moving average is $7.17. The firm has a market capitalization of $192.75 million, a PE ratio of -8.05 and a beta of 2.32.

Alpha Cognition (NASDAQ:ACOG) last issued its earnings results on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.01). Alpha Cognition had a negative return on equity of 54.60% and a negative net margin of 153.61%.The business had revenue of $6.00 million for the quarter, compared to analyst estimates of $4.38 million. On average, analysts anticipate that Alpha Cognition will post -1.38 EPS for the current fiscal year.

Insider Transactions at Alpha Cognition

In other Alpha Cognition news, Director Robert Wills purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was acquired at an average price of $9.62 per share, for a total transaction of $96,200.00. Following the purchase, the director owned 32,241 shares of the company’s stock, valued at $310,158.42. This trade represents a 44.96% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Alpha Cognition

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ACT Capital Management LLC purchased a new position in shares of Alpha Cognition in the 4th quarter worth about $335,000. Aristides Capital LLC increased its stake in shares of Alpha Cognition by 1.4% during the 1st quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock worth $1,200,000 after purchasing an additional 3,052 shares during the last quarter. AWM Investment Company Inc. purchased a new stake in shares of Alpha Cognition during the 2nd quarter worth approximately $12,073,000. Finally, Opaleye Management Inc. increased its stake in shares of Alpha Cognition by 13.0% during the 2nd quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company’s stock worth $20,905,000 after purchasing an additional 333,517 shares during the last quarter.

About Alpha Cognition

Alpha Cognition, Inc is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative disorders. The company’s work centers on therapies intended to address unmet needs in conditions affecting cognition and the central nervous system, including Alzheimer’s disease.

Its lead product, ZUNOVO (donepezil hydrochloride), is an orally disintegrating tablet formulation of donepezil for the treatment of mild to moderate Alzheimer’s disease. The formulation is designed to dissolve in the mouth and may provide an alternative for patients who have difficulty swallowing conventional tablets.