Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $20.83 Average PT from Analysts

Cogent Biosciences, Inc. (NASDAQ:COGT) has received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $29.9167.

Several equities analysts have commented on the stock. Robert W. Baird raised their target price on shares of Cogent Biosciences from $14.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of Cogent Biosciences in a research report on Wednesday, October 8th. Guggenheim boosted their target price on Cogent Biosciences from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, August 25th. Stifel Nicolaus raised shares of Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday. Finally, Leerink Partners lifted their price target on shares of Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a report on Monday.

Cogent Biosciences Trading Up 5.5%

Shares of Cogent Biosciences stock opened at $35.26 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.19 and a current ratio of 6.38. The firm has a 50-day moving average of $15.67 and a 200-day moving average of $11.10. 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 PE ratio of -21.50 and a beta of 0.41.

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 analysts’ consensus estimates of ($0.54) by $0.04. As a group, sell-side analysts forecast that Cogent Biosciences will post -2.42 EPS for the current year.

Institutional Investors Weigh In On Cogent Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in Cogent Biosciences by 12.2% during the 3rd quarter. Barclays PLC now owns 359,830 shares of the technology company’s stock worth $5,167,000 after purchasing an additional 39,265 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Cogent Biosciences by 15.5% during the 3rd quarter. Victory Capital Management Inc. now owns 12,954 shares of the technology company’s stock worth $186,000 after purchasing an additional 1,742 shares during the last quarter. Rafferty Asset Management LLC increased its position in shares of Cogent Biosciences by 62.3% during the third quarter. Rafferty Asset Management LLC now owns 148,801 shares of the technology company’s stock worth $2,137,000 after buying an additional 57,139 shares during the period. Xponance Inc. bought a new position in Cogent Biosciences during the third quarter worth $146,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Cogent Biosciences by 7.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 24,487 shares of the technology company’s stock valued at $352,000 after buying an additional 1,619 shares during the period.

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.