Alpha Cognition price target lowered to $18 from $20 at H.C. Wainwright

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.