Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $14.33 Consensus Target Price from Brokerages

Cogent Biosciences, Inc. (NASDAQ:COGT) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $14.33.

A number of brokerages have commented on COGT. Wedbush reaffirmed a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Monday, January 13th. HC Wainwright decreased their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Needham & Company LLC cut shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in COGT. Values First Advisors Inc. purchased a new stake in shares of Cogent Biosciences in the 3rd quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 worth $43,000 after buying an additional 1,104 shares during the period. nVerses Capital LLC bought a new stake in Cogent Biosciences during the 3rd quarter valued at approximately $76,000. E Fund Management Co. Ltd. purchased a new position in shares of Cogent Biosciences during the 4th quarter worth approximately $89,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Cogent Biosciences in the 4th quarter worth approximately $93,000.

Cogent Biosciences Stock Up 0.2 %

Cogent Biosciences stock opened at $8.76 on Friday. The firm has a fifty day simple moving average of $8.41 and a two-hundred day simple moving average of $9.68. Cogent Biosciences has a twelve month low of $5.37 and a twelve month high of $12.61. The company has a market capitalization of $967.65 million, a PE ratio of -3.53 and a beta of 1.77.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the prior year, the company earned ($0.64) earnings per share. As a group, equities analysts expect 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.