Cognition Therapeutics (NASDAQ:CGTX) Releases Earnings Results, Misses Expectations By $0.01 EPS

Cognition Therapeutics (NASDAQ:CGTX) announced its quarterly earnings data on Thursday. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01), Zacks reports. During the same period in the prior year, the firm earned ($0.27) earnings per share.

Cognition Therapeutics Stock Down 5.2 %

Shares of CGTX stock opened at $0.43 on Friday. The stock has a fifty day moving average of $0.59 and a 200 day moving average of $0.55. The firm has a market capitalization of $17.73 million, a price-to-earnings ratio of -0.44 and a beta of 1.03. Cognition Therapeutics has a 52 week low of $0.34 and a 52 week high of $2.95.

Analyst Upgrades and Downgrades

CGTX has been the subject of a number of research reports. Chardan Capital cut their target price on shares of Cognition Therapeutics from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Friday. B. Riley upgraded shares of Cognition Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $1.00 to $1.50 in a research note on Thursday, December 19th. HC Wainwright increased their target price on Cognition Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Brookline Capital Management upgraded Cognition Therapeutics to a “strong-buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cognition Therapeutics presently has a consensus rating of “Buy” and an average price target of $7.70.

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.