Alpha Cognition (NASDAQ:ACOG) Given “Buy” Rating at HC Wainwright

Alpha Cognition (NASDAQ:ACOG)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $18.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 209.28% from the company’s previous close.

A number of other brokerages have also recently issued reports on ACOG. Wall Street Zen cut shares of Alpha Cognition from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Craig Hallum began coverage on shares of Alpha Cognition in a research report on Friday, April 17th. They set a “buy” rating and a $14.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $16.00.

Alpha Cognition Stock Performance

Shares of ACOG stock opened at $5.82 on Friday. Alpha Cognition has a 52-week low of $4.50 and a 52-week high of $11.54. The stock has a market cap of $126.72 million, a price-to-earnings ratio of -4.31 and a beta of 2.38. The firm has a fifty day moving average of $6.07 and a 200-day moving average of $5.90.

Alpha Cognition (NASDAQ:ACOG) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.04. Alpha Cognition had a negative net margin of 232.23% and a negative return on equity of 58.35%. The company had revenue of $3.53 million during the quarter, compared to analysts’ expectations of $3.42 million. On average, sell-side analysts predict that Alpha Cognition will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On Alpha Cognition

A number of hedge funds have recently made changes to their positions in ACOG. Opaleye Management Inc. increased its position in shares of Alpha Cognition by 1,698.5% during the 4th quarter. Opaleye Management Inc. now owns 2,070,784 shares of the company’s stock worth $13,460,000 after purchasing an additional 1,955,642 shares in the last quarter. AWM Investment Company Inc. increased its position in shares of Alpha Cognition by 52.6% during the 4th quarter. AWM Investment Company Inc. now owns 1,672,168 shares of the company’s stock worth $10,869,000 after purchasing an additional 576,516 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Alpha Cognition during the 4th quarter worth about $2,372,000. Cable Car Capital LP increased its position in Alpha Cognition by 68.8% in the 2nd quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock valued at $8,108,000 after acquiring an additional 354,278 shares in the last quarter. Finally, Sphera Funds Management LTD. increased its position in Alpha Cognition by 67.6% in the 4th quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company’s stock valued at $3,690,000 after acquiring an additional 228,864 shares in the last quarter.

About Alpha Cognition

Alpha Cognition, Inc is a clinical stage biopharmaceutical company that develops treatments for underserved neurodegenerative diseases such as Alzheimer’s Dementia and Amyotrophic Lateral Sclerosis. The company was founded in 2000 and is headquartered in Vancouver, Canada.