Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $14.67 Average PT from Brokerages

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $14.67.

A number of research firms have weighed in on COGT. Wedbush reiterated a “neutral” rating and set a $11.00 price objective (up previously from $10.00) on shares of Cogent Biosciences in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price objective on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price objective on shares of Cogent Biosciences in a research report on Thursday, October 24th. Robert W. Baird boosted their price objective on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Finally, Citigroup boosted their price objective on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th.

Institutional Trading of Cogent Biosciences

Several hedge funds have recently modified their holdings of COGT. Values First Advisors Inc. purchased a new position in shares of Cogent Biosciences in the 3rd quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cogent Biosciences by 38.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after buying an additional 1,104 shares during the period. Russell Investments Group Ltd. increased its holdings in Cogent Biosciences by 234.5% in the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock worth $67,000 after buying an additional 7,020 shares during the period. nVerses Capital LLC acquired a new position in Cogent Biosciences in the 3rd quarter worth approximately $76,000. Finally, Quest Partners LLC acquired a new position in Cogent Biosciences in the 2nd quarter worth approximately $89,000.

Cogent Biosciences Stock Up 2.0 %

Cogent Biosciences stock opened at $11.72 on Thursday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -4.73 and a beta of 1.72. The firm’s fifty day moving average is $11.08 and its 200 day moving average is $9.31. Cogent Biosciences has a 52-week low of $3.67 and a 52-week high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same quarter in the prior year, the firm earned ($0.59) EPS. On average, equities research analysts anticipate that Cogent Biosciences will post -2.25 earnings per share for the current fiscal year.

Cogent Biosciences Company Profile

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.