Brokerages Set Alpha Cognition Inc. (NASDAQ:ACOG) Price Target at $17.25

Shares of Alpha Cognition Inc. (NASDAQ:ACOG) have received an average rating of “Buy” from the five brokerages that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $18.00.

Several equities research analysts have weighed in on the company. HC Wainwright increased their target price on Alpha Cognition from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Maxim Group started coverage on shares of Alpha Cognition in a report on Friday, May 29th. They set a “buy” rating and a $12.00 price target for the company. Wall Street Zen upgraded shares of Alpha Cognition from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. B. Riley Financial started coverage on shares of Alpha Cognition in a report on Thursday, August 20th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Raymond James Financial assumed coverage on shares of Alpha Cognition in a research report on Friday, July 10th. They issued an “outperform” rating and a $20.00 price objective on the stock.

Alpha Cognition Stock Performance

NASDAQ:ACOG opened at $9.75 on Wednesday. The stock has a 50 day moving average of $8.20 and a 200-day moving average of $6.73. The firm has a market capitalization of $212.35 million, a PE ratio of -8.86 and a beta of 2.31. Alpha Cognition has a 52 week low of $4.50 and a 52 week high of $10.14.

Alpha Cognition (NASDAQ:ACOG) last announced its quarterly 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 company had revenue of $6.00 million during the quarter, compared to the consensus estimate of $4.38 million. As a group, analysts predict that Alpha Cognition will post -1.38 EPS for the current fiscal year.

Insider Activity at Alpha Cognition

In other news, Director Robert James Wills purchased 10,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were bought at an average price of $9.62 per share, for a total transaction of $96,200.00. Following the completion of the purchase, the director owned 32,241 shares of the company’s stock, valued at $310,158.42. This trade represents a 44.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Alpha Cognition

Several hedge funds and other institutional investors have recently made changes to their positions in ACOG. Opaleye Management Inc. grew its holdings in Alpha Cognition by 1,698.5% in the 4th quarter. Opaleye Management Inc. now owns 2,070,784 shares of the company’s stock worth $13,460,000 after buying an additional 1,955,642 shares in the last quarter. AWM Investment Company Inc. bought a new stake in Alpha Cognition during the 2nd quarter valued at $12,073,000. Ikarian Capital LLC boosted its position in Alpha Cognition by 11.6% during the 4th quarter. Ikarian Capital LLC now owns 1,056,259 shares of the company’s stock worth $6,866,000 after acquiring an additional 110,000 shares during the period. Cable Car Capital LP boosted its position in Alpha Cognition by 68.8% during the 2nd quarter. Cable Car Capital LP now owns 869,002 shares of the company’s stock worth $8,108,000 after acquiring an additional 354,278 shares during the period. Finally, Sphera Funds Management LTD. grew its stake in shares of Alpha Cognition by 67.6% in the fourth quarter. Sphera Funds Management LTD. now owns 567,616 shares of the company’s stock worth $3,690,000 after purchasing 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.