CogState (ASX:CGS) share price up 44% today and a mind-blowing 207% in 2020

The CogState share price is going ballistic today, up 44% in late afternoon trading. That puts the year-to-date gains at 207%!

| More on:
A man looks stunned as a cloud explodes from his head representing the CogState share price crashing today in

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The CogState Limited (ASX: CGS) share price is going ballistic today, up 44% at the time of writing.

This will come as more good news to longer-term shareholders, who've seen the share price rocket 207% since the closing bell on 31 December last year.

By comparison the All Ordinaries Index (ASX: XAO) is up just under 3% over that same time.

What does CogState do?

Founded in 1999, CogState is a neuroscience technology company. The company provides technology and services to measure cognition and optimise the assessment of brain health to aid in new medicine development and provide earlier clinical insights. Its operating segments include clinical trials, healthcare, and research.

CogState shares first listed on the ASX in 2004. At the current share price, CogState has a market cap of approximately $141 million.

Why has the CogState share price been charging higher?

CogState finished last year trading at 39 cents per share. And it hasn't been a straight uphill run to the current $1.20 per share.

Like most every ASX share, CogState didn't escape the ravages of the COVID-19 driven market panic earlier this year. From 10 January through to 23 March, the CogState share price plunged 47%. If you were savvy or lucky enough to buy shares at that low, you'd be sitting on a gain of 313% today, far outpacing the 53% gains posted by the broader All Ords. 

CogState shares received a huge lift in late July after the company released its quarterly cash flow statement and business update. That revealed a new record high in sales contracts that made 2020 its most successful financial year to date.

Share largely continued to trend higher from late July until receiving another turbo boost towards the end of October. That boost came on the back of the company announcing an agreement with Japanese pharmaceutical firm, Eisai. In exchange for the right to exclusively distribute CogState's digital cognitive assessment technologies, Eisai agreed to an upfront payment of US$15 million as well as paying CogState a royalty on sales.

That gives us some background to CogState's explosive share price growth in 2020.

As for the 44% intraday share price gain today? It appears to be happening on no new market news.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares finished the trading week on a high this Friday.

Read more »

A businessman stacks building blocks.
Technology Shares

6% gain! What's up with Block shares today?

Block shares are up more than 34% since 2 May.

Read more »

Broker looking at the share price.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why ARB, Block, Mayne Pharma, and Paladin Energy shares are charging higher today

These shares are having a strong finish to the week. But why?

Read more »

A woman puts her hands up as she smashes and breaks through a glass ceiling.
Share Gainers

How these 5 ASX 200 stocks are smashing the benchmark this week

These fives ASX 200 stocks have made some very happy shareholders this week. Here’s how.

Read more »

Bored man sitting at his desk with his laptop.
Share Fallers

Why Catalyst Metals, Duratec, Nufarm, and Rio Tinto shares are dropping today

These shares are ending the week in the red. But why?

Read more »

A smiling woman at a hardware shop selects paint colours from a wall display.
Broker Notes

After its strategy day, what does Macquarie think Wesfarmers shares are worth?

Let's see what the broker is saying about this blue chip.

Read more »

Buy, hold, and sell ratings written on signs on a wooden pole.
Technology Shares

After surging 13% yesterday, are TechnologyOne shares a buy, hold or sell according to Macquarie?

Valuations matter when investing, and Macquarie feels no different.

Read more »