What is Leerink Partnrs’ Forecast for COGT FY2024 Earnings?

Cogent Biosciences, Inc. (NASDAQ:COGT) – Equities research analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for shares of Cogent Biosciences in a research note issued on Wednesday, November 13th. Leerink Partnrs analyst A. Berens now forecasts that the technology company will post earnings per share of ($2.53) for the year, up from their prior forecast of ($2.56). The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.40) per share. Leerink Partnrs also issued estimates for Cogent Biosciences’ Q4 2024 earnings at ($0.67) EPS, FY2025 earnings at ($2.41) EPS and FY2026 earnings at ($1.33) EPS.

COGT has been the topic of several other reports. JPMorgan Chase & Co. increased their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup raised their price target on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Robert W. Baird boosted their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Needham & Company LLC decreased their target price on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price target on shares of Cogent Biosciences in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $8.90 on Monday. The firm has a market capitalization of $983.09 million, a price-to-earnings ratio of -3.59 and a beta of 1.72. The business’s 50 day moving average price is $10.99 and its 200-day moving average price is $9.59. Cogent Biosciences has a 1 year low of $3.67 and a 1 year high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same quarter in the prior year, the business earned ($0.64) earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cogent Biosciences by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after purchasing an additional 1,104 shares during the last quarter. Verition Fund Management LLC raised its holdings in shares of Cogent Biosciences by 7.5% during the 3rd quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock worth $337,000 after acquiring an additional 2,176 shares during the period. SkyView Investment Advisors LLC raised its holdings in shares of Cogent Biosciences by 25.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock worth $105,000 after acquiring an additional 2,500 shares during the period. ProShare Advisors LLC grew its holdings in shares of Cogent Biosciences by 15.3% in the first quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock valued at $149,000 after purchasing an additional 2,953 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of Cogent Biosciences in the third quarter valued at about $32,000.

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.