Alpha Cognition (NASDAQ:ACOG) Upgraded to Strong-Buy at B. Riley Financial

B. Riley Financial upgraded shares of Alpha Cognition (NASDAQ:ACOG) to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other research analysts have also commented on the stock. Raymond James Financial initiated coverage on shares of Alpha Cognition in a research note on Friday, July 10th. They issued an “outperform” rating and a $20.00 price target on the stock. Wall Street Zen upgraded Alpha Cognition from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Maxim Group began coverage on Alpha Cognition in a research report on Friday, May 29th. They issued a “buy” rating and a $12.00 target price on the stock. Craig Hallum reiterated a “buy” rating and set a $17.00 target price on shares of Alpha Cognition in a research note on Friday, August 14th. Finally, 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 note on Monday. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, Alpha Cognition has an average rating of “Buy” and a consensus price target of $18.00.

Alpha Cognition Price Performance

Alpha Cognition stock opened at $9.50 on Wednesday. The firm has a 50-day moving average of $7.98 and a 200-day moving average of $6.63. The company has a market cap of $206.91 million, a price-to-earnings ratio of -8.64 and a beta of 2.31. Alpha Cognition has a one year low of $4.50 and a one year high of $10.00.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Aristides Capital LLC lifted its stake in Alpha Cognition by 1.4% in the first quarter. Aristides Capital LLC now owns 218,510 shares of the company’s stock valued at $1,200,000 after buying an additional 3,052 shares during the period. Geode Capital Management LLC acquired a new stake in shares of Alpha Cognition during the 2nd quarter worth approximately $112,000. Massar Capital Management LP bought a new stake in shares of Alpha Cognition in the 2nd quarter valued at $116,000. Two Sigma Investments LP bought a new stake in shares of Alpha Cognition in the 3rd quarter valued at $148,000. Finally, Boothbay Fund Management LLC lifted its position in shares of Alpha Cognition by 10.8% during the 3rd quarter. Boothbay Fund Management LLC now owns 291,868 shares of the company’s stock valued at $1,900,000 after acquiring an additional 28,392 shares during the period.

Alpha Cognition Company Profile

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.