Cognition Therapeutics (NASDAQ:CGTX) Upgraded at B. Riley

Cognition Therapeutics (NASDAQ:CGTX) was upgraded by stock analysts at B. Riley from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, Marketbeat reports. The firm presently has a $1.50 price objective on the stock, up from their previous price objective of $1.00. B. Riley’s price objective indicates a potential upside of 138.06% from the company’s previous close.

A number of other brokerages have also recently weighed in on CGTX. Chardan Capital restated a “buy” rating and issued a $11.00 price objective on shares of Cognition Therapeutics in a report on Thursday. HC Wainwright upped their price objective on Cognition Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.30.

Cognition Therapeutics Price Performance

NASDAQ CGTX opened at $0.63 on Thursday. The company has a market cap of $26.18 million, a P/E ratio of -0.65 and a beta of 1.26. The stock has a 50-day moving average of $0.48 and a two-hundred day moving average of $0.93. Cognition Therapeutics has a 1-year low of $0.34 and a 1-year high of $2.95.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CM Management LLC grew its holdings in Cognition Therapeutics by 14.3% during the 2nd quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $332,000 after acquiring an additional 25,000 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Cognition Therapeutics by 33.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 95,951 shares of the company’s stock valued at $159,000 after purchasing an additional 24,050 shares in the last quarter. Sigma Planning Corp grew its stake in shares of Cognition Therapeutics by 14.6% during the third quarter. Sigma Planning Corp now owns 197,190 shares of the company’s stock worth $92,000 after purchasing an additional 25,050 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Cognition Therapeutics in the third quarter valued at $27,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

About Cognition Therapeutics

Cognition Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina. Its lead product candidate is CT1812, an orally delivered molecule modulator designed to penetrate the blood-brain barrier and bind selectively to the S2R complex, which is in Phase 2 clinical trial for the treatment of Alzheimer's disease, as well as geographic atrophy secondary to dry age-related macular degeneration and synucleinopathies, such as dementia with Lewy bodies.