Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $45.90 Average Target Price from Analysts

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $45.90.

Several research firms recently commented on COGT. HC Wainwright lifted their price objective on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Friday, May 29th.

Institutional Investors Weigh In On Cogent Biosciences

A number of large investors have recently added to or reduced their stakes in the stock. Pier Capital LLC bought a new position in Cogent Biosciences in the 4th quarter worth about $1,643,000. Vanguard Group Inc. boosted its holdings in shares of Cogent Biosciences by 48.4% in the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after purchasing an additional 3,756,664 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of Cogent Biosciences by 710.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 112,476 shares of the technology company’s stock valued at $4,232,000 after purchasing an additional 98,602 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in Cogent Biosciences by 12.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 338,065 shares of the technology company’s stock worth $12,008,000 after purchasing an additional 37,938 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in Cogent Biosciences during the 4th quarter worth $1,330,000.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $38.30 on Friday. The firm has a market cap of $6.54 billion, a P/E ratio of -17.65 and a beta of 0.34. Cogent Biosciences has a twelve month low of $10.38 and a twelve month high of $43.73. The company has a quick ratio of 15.14, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average of $35.39 and a 200 day moving average of $36.22.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, hitting analysts’ consensus estimates of ($0.53). As a group, research analysts expect that Cogent Biosciences will post -2.26 EPS for the current fiscal year.

About Cogent Biosciences

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.