Cognition Therapeutics stock rating reiterated at Buy by H.C. Wainwright

Investing.com - H.C. Wainwright reiterated its Buy rating on Cognition Therapeutics (NASDAQ:CGTX) with a price target of $3.00 on Monday. Currently trading at $0.57, the micro-cap biotech company ($35.17M market cap) has analyst targets ranging from $2 to $4, according to InvestingPro data.

The firm’s decision follows Cognition’s end-of-Phase 2 meeting with the FDA on July 9, where the company discussed results from the Phase 2 SHINE study of zervimesine (CT1812) and plans for a Phase 3 program to support a New Drug Application in Alzheimer’s disease. While the company maintains a healthy current ratio of 2.09, InvestingPro analysis shows rapid cash burn as a key concern.

Cognition is expected to receive formal, minuted feedback from the FDA next month that will outline the clinical path forward for zervimesine in Alzheimer’s disease.

H.C. Wainwright noted that FDA feedback would represent a "meaningful clarity and a clear value inflection point" for Cognition, particularly if it required a 12-month evaluation period and specified that a single functional outcome measure would be sufficient as a primary endpoint.

The research firm maintains its 12-month price target of $3.00 in anticipation of FDA feedback that would facilitate a clear development path for zervimesine in Alzheimer’s disease. For comprehensive analysis of biotech stocks like CGTX, including detailed financial health metrics and expert insights, explore InvestingPro’s extensive research tools.

In other recent news, Cognition Therapeutics has completed an end-of-Phase 2 meeting with the U.S. Food and Drug Administration regarding its Alzheimer’s drug candidate, zervimesine. The meeting focused on reviewing results from the Phase 2 "SHINE" study and discussing plans for a Phase 3 program that would support a new drug application. The SHINE study, which enrolled 153 adults with mild-to-moderate Alzheimer’s disease, met its primary endpoints of safety and tolerability. Cognition Therapeutics is also conducting the Phase 2 START Study, which has surpassed 50% enrollment and aims to evaluate zervimesine in patients with mild Alzheimer’s disease. The study is supported by $81 million in grant funding from the National Institute of Aging. Analysts at H.C. Wainwright have reiterated their Buy rating and $3.00 price target on Cognition Therapeutics, reflecting confidence in the company’s progress. Additionally, the company is advancing zervimesine for dementia with Lewy bodies and has submitted applications for Breakthrough Therapy Designation. An expanded access program for zervimesine in dementia with Lewy bodies is currently enrolling patients.

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