Cogent Biosciences (NASDAQ:COGT) Price Target Raised to $28.00 at Jefferies Financial Group

Cogent Biosciences (NASDAQ:COGT) had its price target hoisted by Jefferies Financial Group from $23.00 to $28.00 in a research report report published on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also commented on COGT. JPMorgan Chase & Co. lifted their price objective on Cogent Biosciences from $21.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, May 29th. Leerink Partners lifted their price objective on Cogent Biosciences from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday. HC Wainwright dropped their price objective on Cogent Biosciences from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 20th. Wedbush reiterated a “neutral” rating and issued a $10.00 price objective on shares of Cogent Biosciences in a research note on Monday, June 30th. Finally, Robert W. Baird lowered their price target on Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.33.

Cogent Biosciences Price Performance

NASDAQ COGT opened at $9.35 on Monday. Cogent Biosciences has a fifty-two week low of $3.72 and a fifty-two week high of $12.61. The stock’s 50-day moving average is $6.13 and its two-hundred day moving average is $6.75. The firm has a market cap of $1.06 billion, a P/E ratio of -5.08 and a beta of 1.88.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.04. On average, equities analysts expect that Cogent Biosciences will post -2.42 EPS for the current year.

Institutional Investors Weigh In On Cogent Biosciences

Large investors have recently modified their holdings of the stock. Strs Ohio bought a new stake in shares of Cogent Biosciences in the 1st quarter valued at approximately $36,000. CWM LLC boosted its holdings in shares of Cogent Biosciences by 11,869.9% in the 1st quarter. CWM LLC now owns 8,738 shares of the technology company’s stock worth $52,000 after acquiring an additional 8,665 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Cogent Biosciences in the 4th quarter worth approximately $78,000. Hsbc Holdings PLC acquired a new position in shares of Cogent Biosciences in the 4th quarter worth approximately $81,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Cogent Biosciences in the 4th quarter worth approximately $88,000.

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.