B. Riley Upgrades Cognition Therapeutics to Buy Following Positive Lewy Bodies Data

B. Riley analyst Mayank Mamtani has upgraded Cognition Therapeutics (CGTX) from Neutral to Buy, raising the price target to $1.50 from $1. This upgrade comes after the company reported topline results from the Phase 2 SHIMMER study of CT1812 in patients with dementia with Lewy bodies, which exceeded expectations in terms of consistency and magnitude of treatment effect. Mamtani highlighted in a research note that these results indicate Cognition Therapeutics is not only here to stay but is poised to thrive. The positive outcomes from the SHIMMER study underscore the potential of CT1812 as a significant treatment option for dementia with Lewy bodies, marking a pivotal moment for Cognition Therapeutics in the field of clinical trial medical treatment.