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

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $14.83.

A number of research analysts have recently commented on COGT shares. Wedbush reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price target on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Citigroup raised their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. HC Wainwright restated a “buy” rating on shares of Cogent Biosciences in a research report on Wednesday, December 11th. Finally, Robert W. Baird raised their target price on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th.

Cogent Biosciences Stock Up 1.3 %

Shares of NASDAQ COGT opened at $7.86 on Friday. Cogent Biosciences has a 12 month low of $4.28 and a 12 month high of $12.61. The company has a market cap of $868.23 million, a P/E ratio of -3.17 and a beta of 1.71. The business’s 50 day moving average is $9.99 and its two-hundred day moving average is $9.78.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same period last year, the company earned ($0.64) EPS. Sell-side analysts expect that Cogent Biosciences will post -2.42 earnings per share for the current fiscal year.

Institutional Trading of Cogent Biosciences

Several institutional investors have recently bought and sold shares of the stock. Values First Advisors Inc. bought a new position in shares of Cogent Biosciences during the third quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 buying an additional 1,104 shares in the last quarter. nVerses Capital LLC bought a new stake in Cogent Biosciences during the third quarter worth about $76,000. Victory Capital Management Inc. acquired a new stake in shares of Cogent Biosciences during the third quarter worth approximately $113,000. Finally, Quest Partners LLC bought a new position in shares of Cogent Biosciences in the second quarter valued at approximately $89,000.

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.