HC Wainwright Adjusts Earnings Estimates for Cognition Therapeutics in FY2024

Cognition Therapeutics, Inc. (NASDAQ:CGTX) has recently faced a change in earnings estimates from investment analysts at HC Wainwright. According to a research note released to investors on November 27th, HC Wainwright analyst R. Selvaraju revised the FY2024 earnings per share (EPS) estimate from a loss of ($0.72) to a loss of ($0.87) for the company.

Despite the adjustment, HC Wainwright maintains a “Buy” rating on CGTX, along with a target price of $5.00 per share. The consensus among analysts indicates that Cognition Therapeutics is expected to report full-year earnings of around ($0.86) per share. Further forecasts made by HC Wainwright predict earnings of ($0.19) per share for Q4 2024 and ($0.31) per share for FY2025.

Other Analyst Ratings and Market Performance

The discussion surrounding CGTX is not limited to HC Wainwright. Chardan Capital has also reaffirmed a “Buy” rating, setting a price target of $11.00 on shares of Cognition Therapeutics. On the other hand, B. Riley adjusted their rating, moving from a “Buy” to a “Neutral” rating and lowering their price target from $5.00 to $1.00.

Currently, the stock has received mixed ratings from analysts. Two analysts suggest holding the stock, while four maintain a buy rating. According to MarketBeat data, CGTX has an overall consensus rating categorized as a “Moderate Buy” with a median price target of $8.00.

Cognition Therapeutics Stock Performance

On the trading day of the report, shares of Cognition Therapeutics opened at $0.40. The stock has shown some volatility, with a fifty-day moving average sitting at $0.47 and a two-hundred day moving average at $1.09. Over the past year, the stock's price has fluctuated between a low of $0.34 and a high of $2.95. The market capitalization of Cognition Therapeutics stands at approximately $16.62 million, and it has a negative price-to-earnings ratio of -0.41, indicating that the company is not currently profitable.

Institutional Investment Interests

Recent changes in institutional holdings for CGTX reflect a mix of new investments and increased positions by various hedge funds and investors. Virtu Financial LLC entered a new position worth roughly $27,000 in Cognition Therapeutics in the third quarter. Meanwhile, Bangor Savings Bank has significantly increased its stake by 41.6%, now holding 34,019 shares valued at around $56,000. Sigma Planning Corp and Mercer Global Advisors Inc. ADV have also boosted their holdings in recent months.

As of now, institutional investors hold about 43.35% of Cognition Therapeutics stock, which suggests a level of confidence among larger investors in the company’s future prospects.

About Cognition Therapeutics

Cognition Therapeutics, Inc. is a biopharmaceutical company focused on developing small molecule therapies aimed at treating age-related degenerative diseases and disorders affecting the central nervous system and retina. The company’s lead candidate, CT1812, is designed to penetrate the blood-brain barrier and selectively bind to the S2R complex. Currently, this candidate is in Phase 2 clinical trials for Alzheimer’s disease, geographic atrophy related to dry age-related macular degeneration, and synucleinopathies such as dementia with Lewy bodies.

Cognition, Earnings, Analyst