Cogent Biosciences (NASDAQ:COGT – Get Free Report) issued its quarterly earnings data on Tuesday. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.50, Zacks reports.
Cogent Biosciences Trading Down 11.3 %
Cogent Biosciences stock opened at $7.10 on Tuesday. The firm has a market capitalization of $784.28 million, a price-to-earnings ratio of -2.95 and a beta of 1.77. Cogent Biosciences has a 1-year low of $5.73 and a 1-year high of $12.61. The firm has a 50 day simple moving average of $8.23 and a 200 day simple moving average of $9.59.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on COGT shares. HC Wainwright lowered their price objective on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating for the company 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 report on Wednesday, December 11th. 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 research note on Thursday, November 14th. Finally, Wedbush restated a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.33.
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.
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