Cogent Biosciences, Inc. (NASDAQ:COGT) Stock Has Average Target Price of $51.56 According to Analysts

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $51.56.

Several research firms have recently commented on COGT. Guggenheim upped their price objective on Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, October 2nd. Piper Sandler upped their price target on Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a research note on Tuesday, September 15th. Finally, Wall Street Zen cut Cogent Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th.

Institutional Investors Weigh In On Cogent Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COGT. BlackRock Inc. purchased a new stake in shares of Cogent Biosciences in the second quarter worth $671,547,000. Wellington Management Group LLP raised its position in shares of Cogent Biosciences by 21.4% during the 2nd quarter. Wellington Management Group LLP now owns 4,343,977 shares of the technology company’s stock valued at $168,112,000 after purchasing an additional 765,355 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cogent Biosciences by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 3,514,562 shares of the technology company’s stock valued at $124,862,000 after buying an additional 240,407 shares in the last quarter. Commodore Capital LP lifted its stake in shares of Cogent Biosciences by 31.5% during the 1st quarter. Commodore Capital LP now owns 2,888,007 shares of the technology company’s stock valued at $111,159,000 after buying an additional 691,162 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in Cogent Biosciences by 1,499.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,798,768 shares of the technology company’s stock worth $68,826,000 after buying an additional 1,686,292 shares during the period.

Cogent Biosciences Stock Performance

Shares of NASDAQ COGT opened at $30.14 on Thursday. The firm has a 50 day moving average of $35.34 and a 200 day moving average of $35.76. The company has a current ratio of 13.57, a quick ratio of 13.57 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of -13.95 and a beta of 0.31. Cogent Biosciences has a 12-month low of $13.78 and a 12-month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Monday, August 10th. The technology company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.03. On average, research analysts anticipate that Cogent Biosciences will post -2.23 earnings per share for the current year.

About Cogent Biosciences

Cogent Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision therapies for genetically defined diseases. The company’s research programs are designed to selectively target disease-driving proteins while minimizing effects on healthy cells.

Cogent’s lead product candidate is bezuclastinib, also known as CGT948, an oral, highly selective inhibitor of the KIT D816V mutation and other KIT alterations. The company is evaluating bezuclastinib in systemic mastocytosis, a disorder involving the abnormal growth and accumulation of mast cells, as well as in gastrointestinal stromal tumors (GIST) and other KIT-driven diseases.

Cogent conducts research and clinical development activities in the United States and works with healthcare professionals, patients and research institutions through its clinical programs.