Cognition Therapeutics, Inc. (NASDAQ:CGTX) Receives $8.00 Average Price Target from Brokerages

Shares of Cognition Therapeutics, Inc. (NASDAQ:CGTX) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.00.

CGTX has been the subject of a number of research analyst reports. B. Riley restated a “neutral” rating and issued a $1.00 price target (down previously from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. Chardan Capital reiterated a “buy” rating and set a $11.00 target price on shares of Cognition Therapeutics in a research note on Friday, November 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Cognition Therapeutics in a research note on Wednesday, November 27th.

Hedge Funds Weigh In On Cognition Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CGTX. Bangor Savings Bank boosted its holdings in shares of Cognition Therapeutics by 41.6% during the second quarter. Bangor Savings Bank now owns 34,019 shares of the company’s stock valued at $56,000 after acquiring an additional 10,000 shares during the period. CM Management LLC boosted its holdings in shares of Cognition Therapeutics by 14.3% during the second quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $332,000 after acquiring an additional 25,000 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Cognition Therapeutics by 33.4% during the second 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. Sigma Planning Corp boosted its holdings in shares of Cognition Therapeutics by 14.6% during the third quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock valued at $92,000 after acquiring an additional 25,050 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Cognition Therapeutics during the third quarter valued at $27,000. Institutional investors and hedge funds own 43.35% of the company’s stock.

Cognition Therapeutics Trading Down 3.3 %

Shares of NASDAQ:CGTX opened at $0.39 on Friday. The company has a fifty day simple moving average of $0.46 and a 200 day simple moving average of $1.07. The firm has a market cap of $16.08 million, a PE ratio of -0.40 and a beta of 1.26. Cognition Therapeutics has a 12-month low of $0.34 and a 12-month high of $2.95.

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.