Alpha Cognition (NASDAQ:ACOG) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Alpha Cognition (NASDAQ:ACOG) from a sell rating to a hold rating in a research report released on Saturday morning.

Several other research firms have also recently issued reports on ACOG. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Alpha Cognition in a research note on Friday, May 22nd. Raymond James Financial assumed coverage on shares of Alpha Cognition in a report on Friday, July 10th. They issued an “outperform” rating and a $20.00 price target on the stock. Craig Hallum reiterated a “buy” rating and issued a $17.00 price target on shares of Alpha Cognition in a report on Friday. Finally, Maxim Group initiated coverage on shares of Alpha Cognition in a research report on Friday, May 29th. They set a “buy” rating and a $12.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Alpha Cognition has an average rating of “Buy” and a consensus price target of $16.75.

Alpha Cognition Price Performance

NASDAQ ACOG opened at $8.84 on Friday. The stock has a market capitalization of $192.45 million, a PE ratio of -8.04 and a beta of 2.31. Alpha Cognition has a 1 year low of $4.50 and a 1 year high of $10.00. The business’s 50-day moving average is $7.74 and its 200 day moving average is $6.52.

Alpha Cognition (NASDAQ:ACOG) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). Alpha Cognition had a negative net margin of 153.61% and a negative return on equity of 55.04%. The business had revenue of $6.00 million for the quarter, compared to the consensus estimate of $4.38 million. As a group, equities research analysts anticipate that Alpha Cognition will post -1.37 earnings per share for the current year.

Institutional Investors Weigh In On Alpha Cognition

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