Cognition Therapeutics (NASDAQ:CGTX) Upgraded to “Buy” at B. Riley

Cognition Therapeutics (NASDAQ:CGTX) was upgraded by B. Riley from a “neutral” rating to a “buy” rating in a research report issued on Thursday,Briefing.com Automated Import reports. The firm currently has a $1.50 price target on the stock, up from their prior price target of $1.00. B. Riley’s price target suggests a potential upside of 158.62% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Chardan Capital reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Cognition Therapeutics in a research report on Thursday. HC Wainwright lifted their price target on shares of Cognition Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $8.30.

Cognition Therapeutics Price Performance

CGTX opened at $0.58 on Thursday. The firm has a market capitalization of $24.10 million, a PE ratio of -0.60 and a beta of 1.26. The business’s 50-day moving average is $0.47 and its two-hundred day moving average is $0.94. Cognition Therapeutics has a 1 year low of $0.34 and a 1 year high of $2.95.

Institutional Investors Weigh In On Cognition Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of Cognition Therapeutics in the 3rd quarter valued at $27,000. Sigma Planning Corp grew its stake in Cognition Therapeutics by 14.6% during the 3rd quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock valued at $92,000 after purchasing an additional 25,050 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Cognition Therapeutics by 33.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock valued at $159,000 after purchasing an additional 24,050 shares during the period. Finally, CM Management LLC raised its stake in shares of Cognition Therapeutics by 14.3% in the second quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after purchasing an additional 25,000 shares during the last quarter. 43.35% of the stock is currently owned by institutional investors and hedge funds.

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.