Alpha Cognition Inc. (NASDAQ:ACOG) Stock Has Average Price Target of $18.00 According to Brokerages

Alpha Cognition Inc. (NASDAQ:ACOG) has been given a consensus recommendation of “Buy” by the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $18.00.

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Alpha Cognition from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. HC Wainwright raised their price target on shares of Alpha Cognition from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Raymond James Financial began coverage on Alpha Cognition in a report on Friday, July 10th. They set an “outperform” rating and a $20.00 price objective for the company. B. Riley Financial started coverage on Alpha Cognition in a research report on Thursday, August 20th. They set a “buy” rating and a $21.00 price target on the stock. Finally, Craig Hallum reiterated a “buy” rating and set a $17.00 price target on shares of Alpha Cognition in a research report on Friday, August 14th.

Alpha Cognition Stock Performance

NASDAQ:ACOG opened at $8.29 on Monday. The stock’s 50 day moving average price is $8.80 and its two-hundred day moving average price is $7.21. Alpha Cognition has a 12-month low of $4.50 and a 12-month high of $10.14.

Alpha Cognition (NASDAQ:ACOG) last posted its earnings results on Thursday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.01). Alpha Cognition had a negative return on equity of 54.60% and a negative net margin of 153.61%. The business had revenue of $6.00 million during the quarter, compared to the consensus estimate of $4.38 million. Equities analysts predict that Alpha Cognition will post -1.38 EPS for the current fiscal year.

Insider Buying and Selling at Alpha Cognition

In other Alpha Cognition news, Director Robert Wills purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were bought at an average cost of $9.62 per share, with a total value of $96,200.00. Following the acquisition, the director owned 32,241 shares in the company, valued at approximately $310,158.42. This trade represents a 44.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. acquired a new stake in Alpha Cognition in the second quarter worth approximately $12,073,000. Opaleye Management Inc. raised its position in Alpha Cognition by 13.0% during the 2nd quarter. Opaleye Management Inc. now owns 2,895,467 shares of the company’s stock worth $20,905,000 after purchasing an additional 333,517 shares during the last quarter. Pekin Hardy Strauss Inc. bought a new stake in shares of Alpha Cognition in the 3rd quarter worth $210,000. Finally, Aristides Capital LLC lifted its stake in Alpha Cognition by 1.4% in the 1st quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock worth $1,200,000 after purchasing an additional 3,052 shares in the last quarter.

Alpha Cognition Company Profile

Alpha Cognition Inc is a biopharmaceutical company focused on developing and commercializing treatments for neurodegenerative diseases and cognitive disorders. The company’s work is centered on therapies intended to address the medical needs of patients with Alzheimer’s disease and other conditions affecting cognition.

Its lead commercial product is ZUNOVO (galantamine hydrobromide) extended-release capsules, an orally administered treatment approved by the U.S. Food and Drug Administration for mild-to-moderate dementia of the Alzheimer’s type.