Alpha Cognition Inc (ACOG) PT Raised to $20 at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju raised the price target on Alpha Cognition Inc (NASDAQ: ACOG) to $20.00 (from $18.00) while maintaining a Buy rating.
The analyst commented: "Late last week, Alpha Cognition reported its 2Q26 financial results, delivering a healthy revenue beat with its lead product, ZUNVEYL (benzgalantamine). The company recorded 2Q26 top-line revenue totaling ~$6M vs. our forecast for only $4.7M. We currently project full-year 2026 revenue totaling $26M vs. the prior $25.8M, but note that this implies meaningfully greater product revenue growth than we had originally forecast along with the shift of the $2M milestone associated with benzgalantamine advancement in China into early 2027. Our full-year 2027 revenue forecast has risen to $56.8M from the previous $54.4M. The company recorded a net loss of $0.40 per share vs. our forecast for a net loss of only $0.33 per share, driven mainly by moderately higher-than-expected operating expenses and the negative impact of change in the fair value of warrants. We currently estimate a full-year 2026 net loss of $1.28 vs. the previous $1.03 per share, while our full-year 2027 net loss forecast remains essentially unchanged at $0.31 vs. the prior $0.32 per share. According to our projections, Alpha Cognition may reach cash flow break-even in late 2027. The company reached the midpoint of 2026 with $41.4M in cash and cash equivalents, which we expect to potentially be sufficient to fund operations to break-even. We reiterate our Buy rating, while raising our 12-month price target to $20 from the prior $18 per share based on the upwardly revised revenue trajectory for ZUNVEYL."