Alpha Cognition (NASDAQ:ACOG) Raised to “Strong-Buy” at B. Riley Financial

Alpha Cognition (NASDAQ:ACOG) was upgraded by equities researchers at B. Riley Financial to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages also recently commented on ACOG. Raymond James Financial assumed coverage on Alpha Cognition in a research note on Friday, July 10th. They issued an “outperform” rating and a $20.00 target price for the company. HC Wainwright lifted their price objective on shares of Alpha Cognition from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday. Wall Street Zen raised Alpha Cognition from a “sell” rating to a “hold” rating in a research note 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. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Alpha Cognition in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $18.00.

Alpha Cognition Price Performance

Shares of NASDAQ ACOG opened at $9.50 on Wednesday. The firm’s 50-day moving average is $7.98 and its two-hundred day moving average is $6.63. The company has a market capitalization of $206.91 million, a PE ratio of -8.64 and a beta of 2.31. Alpha Cognition has a 12-month low of $4.50 and a 12-month high of $10.00.

Alpha Cognition (NASDAQ:ACOG) last posted its quarterly 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 net margin of 153.61% and a negative return on equity of 54.60%. The business had revenue of $6.00 million during the quarter, compared to analysts’ expectations of $4.38 million. On average, analysts forecast that Alpha Cognition will post -1.38 EPS for the current fiscal year.

Institutional Trading of Alpha Cognition

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC acquired a new position in Alpha Cognition in the second quarter worth about $112,000. Marshall Wace LLP acquired a new stake in shares of Alpha Cognition in the 2nd quarter valued at $600,000. Cable Car Capital LP grew its holdings in shares of Alpha Cognition by 68.8% in the 2nd quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock worth $8,108,000 after purchasing an additional 354,278 shares during the last quarter. Massar Capital Management LP bought a new stake in shares of Alpha Cognition in the 2nd quarter worth about $116,000. Finally, Manatuck Hill Partners LLC increased 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 worth $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.