Cogent Biosciences (NASDAQ:COGT) Upgraded by Stifel Nicolaus to Buy Rating

Stifel Nicolaus upgraded shares of Cogent Biosciences (NASDAQ:COGT) from a hold rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. Stifel Nicolaus currently has $40.00 price objective on the technology company’s stock.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Cogent Biosciences from $30.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Guggenheim raised their price target on shares of Cogent Biosciences from $17.00 to $20.00 and gave the company a “buy” rating in a report on Monday, August 25th. Raymond James Financial started coverage on shares of Cogent Biosciences in a research note on Tuesday, September 2nd. They set a “strong-buy” rating and a $30.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Wednesday, October 8th. Finally, Citigroup lifted their price target on shares of Cogent Biosciences from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.92.

Cogent Biosciences Stock Performance

Shares of COGT opened at $32.46 on Monday. The company has a 50 day moving average price of $14.80 and a 200-day moving average price of $10.73. Cogent Biosciences has a fifty-two week low of $3.72 and a fifty-two week high of $36.15. The stock has a market capitalization of $3.70 billion, a PE ratio of -19.79 and a beta of 0.41.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported ($0.50) EPS for the quarter. Equities research analysts forecast that Cogent Biosciences will post -2.42 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. lifted its holdings in shares of Cogent Biosciences by 41.4% during the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,333 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 worth $78,000 after buying an additional 1,003 shares during the period. CWM LLC raised its position in Cogent Biosciences by 25.3% during the 3rd quarter. CWM LLC now owns 5,582 shares of the technology company’s stock worth $80,000 after buying an additional 1,126 shares during the last quarter. Strs Ohio acquired a new stake in Cogent Biosciences during the 1st quarter valued at approximately $36,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Cogent Biosciences by 16.6% in the 2nd 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 last quarter.

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.