H.C. Wainwright lowered the firm’s price target on Alpha Cognition (ACOG) to $18 from $20 and keeps a Buy rating on the shares after the sale of roughly 4.6M shares of common stock and approximately 949,000 pre-funded warrants to purchase common stock at a price of $6.25 per share earlier this month. The firm is trimming its 12-month price target to account for the equity dilution from the recent financing as well as revisions to its sales forecasts.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACOG:
- Alpha Cognition 5.6M share Spot Secondary priced at $6.25
- Closing Bell Movers: Nike rallies 4% after earnings beat and guidance
- Alpha Cognition announces common stock offering, no amount given
- Alpha Cognition’s Earnings Call: Optimism Amid Challenges
- Alpha Cognition files $250M mixed securities shelf