HC Wainwright Issues Positive Forecast for Cogent Biosciences (NASDAQ:COGT) Stock Price

Cogent Biosciences (NASDAQ:COGT) had its price objective lifted by analysts at HC Wainwright from $21.00 to $50.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. HC Wainwright’s price target would suggest a potential upside of 41.80% from the stock’s current price.

COGT has been the subject of a number of other reports. Robert W. Baird increased their price target on Cogent Biosciences from $14.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday. Citigroup upped their price objective on Cogent Biosciences from $15.00 to $22.00 and gave the company a “buy” rating in a report on Friday, July 18th. Stifel Nicolaus raised Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday. Raymond James Financial assumed coverage on Cogent Biosciences in a report on Tuesday, September 2nd. They set a “strong-buy” rating and a $30.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cogent Biosciences in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Cogent Biosciences Stock Up 5.5%

Cogent Biosciences stock opened at $35.26 on Thursday. Cogent Biosciences has a 52 week low of $3.72 and a 52 week high of $36.15. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of -21.50 and a beta of 0.41. The company’s 50-day moving average price is $15.67 and its two-hundred day moving average price is $11.10. The company has a current ratio of 6.38, a quick ratio of 4.19 and a debt-to-equity ratio of 0.23.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Friday, November 7th. The technology company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.04. On average, analysts expect that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Institutional Trading of Cogent Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of COGT. Osaic Holdings Inc. lifted its stake in Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after buying an additional 1,333 shares in the last quarter. Strs Ohio purchased a new position in shares of Cogent Biosciences in the first quarter worth approximately $36,000. CWM LLC raised its holdings in shares of Cogent Biosciences by 11,869.9% during the first quarter. CWM LLC now owns 8,738 shares of the technology company’s stock valued at $52,000 after acquiring an additional 8,665 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of Cogent Biosciences by 16.6% during the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock valued at $78,000 after acquiring an additional 1,543 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cogent Biosciences by 22.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after acquiring an additional 1,003 shares in the last quarter.

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.