Cognition Therapeutics (NASDAQ:CGTX) Releases Earnings Results, Beats Estimates By $0.04 EPS

Cognition Therapeutics (NASDAQ:CGTX) posted its earnings results on Thursday. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04, Zacks reports. During the same quarter in the previous year, the business earned ($0.16) earnings per share.

Cognition Therapeutics Trading Down 6.4 %

Shares of NASDAQ CGTX traded down $0.04 during trading on Friday, reaching $0.55. 740,127 shares of the company traded hands, compared to its average volume of 476,138. The stock has a market cap of $21.92 million, a P/E ratio of -0.59 and a beta of 1.46. The firm’s fifty day simple moving average is $1.71 and its 200 day simple moving average is $1.92. Cognition Therapeutics has a 12-month low of $0.54 and a 12-month high of $2.95.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Cantor Fitzgerald cut shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. B. Riley reiterated a “neutral” rating and issued a $1.00 price target (down previously from $5.00) on shares of Cognition Therapeutics in a research report on Tuesday, August 6th. HC Wainwright decreased their price objective on Cognition Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Chardan Capital started coverage on Cognition Therapeutics in a report on Thursday, June 6th. They issued a “buy” rating and a $11.00 target price for the company. Finally, Rodman & Renshaw reissued a “buy” rating and set a $14.00 target price on shares of Cognition Therapeutics in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

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.