Chardan Capital Reaffirms Buy Rating for Cognition Therapeutics (NASDAQ:CGTX)

Cognition Therapeutics (NASDAQ:CGTX)‘s stock had its “buy” rating reiterated by equities research analysts at Chardan Capital in a research note issued on Friday,Benzinga reports. They currently have a $11.00 price objective on the stock.

CGTX has been the topic of several other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Cognition Therapeutics in a research note on Monday, November 4th. Cantor Fitzgerald downgraded shares of Cognition Therapeutics from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Finally, B. Riley restated a “neutral” rating and set a $1.00 price target (down from $5.00) on shares of Cognition Therapeutics in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Cognition Therapeutics Price Performance

Cognition Therapeutics stock opened at $0.46 on Friday. The firm has a 50 day simple moving average of $0.50 and a 200-day simple moving average of $1.20. The stock has a market cap of $18.51 million, a price-to-earnings ratio of -0.48 and a beta of 1.34. 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

Several institutional investors have recently modified their holdings of CGTX. Bangor Savings Bank lifted its position in shares of Cognition Therapeutics by 41.6% in 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 in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Cognition Therapeutics by 33.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock worth $159,000 after purchasing an additional 24,050 shares during the period. CM Management LLC lifted its holdings in shares of Cognition Therapeutics by 14.3% during the 2nd 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 in the last quarter. Sigma Planning Corp boosted its holdings in Cognition Therapeutics by 14.6% in the 3rd quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock worth $92,000 after acquiring an additional 25,050 shares during the period. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of Cognition Therapeutics during the first quarter valued at about $47,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

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.