Cogent Biosciences, Inc. (NASDAQ:COGT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $32.3333.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Cogent Biosciences from $30.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Raymond James Financial assumed coverage on shares of Cogent Biosciences in a report on Tuesday, September 2nd. They issued a “strong-buy” rating and a $30.00 target price on the stock. Leerink Partners lifted their price target on Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Guggenheim increased their price objective on Cogent Biosciences from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, August 25th. Finally, HC Wainwright raised their target price on Cogent Biosciences from $21.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 13th.

Institutional Trading of Cogent Biosciences

Several institutional investors have recently made changes to their positions in COGT. CIBC Bancorp USA Inc. bought a new position in shares of Cogent Biosciences during the third quarter valued at about $199,000. Jacobs Levy Equity Management Inc. bought a new stake in Cogent Biosciences in the 3rd quarter worth about $2,687,000. Alyeska Investment Group L.P. purchased a new stake in Cogent Biosciences in the 3rd quarter valued at about $1,436,000. Vivo Capital LLC lifted its position in shares of Cogent Biosciences by 148.5% during the 3rd quarter. Vivo Capital LLC now owns 2,789,137 shares of the technology company’s stock worth $40,052,000 after buying an additional 1,666,666 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Cogent Biosciences by 501.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 113,658 shares of the technology company’s stock worth $1,632,000 after buying an additional 94,756 shares during the last quarter.

Cogent Biosciences Trading Up 0.4%

Shares of Cogent Biosciences stock opened at $39.31 on Friday. The stock has a market capitalization of $5.60 billion, a PE ratio of -23.97 and a beta of 0.50. Cogent Biosciences has a 52 week low of $3.72 and a 52 week high of $41.27. The stock has a 50 day moving average price of $23.55 and a two-hundred day moving average price of $14.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.38 and a current ratio of 6.38.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.04. As a group, equities analysts anticipate that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

About Cogent Biosciences

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.