Cogent Biosciences’ (COGT) “Outperform” Rating Reiterated at Wedbush

Cogent Biosciences (NASDAQ:COGT)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research note issued to investors on Friday,Benzinga reports. They presently have a $55.00 price target on the technology company’s stock. Wedbush’s price objective suggests a potential upside of 56.44% from the company’s current price.

Several other equities analysts have also commented on COGT. HC Wainwright boosted their price target on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Jefferies Financial Group started coverage on shares of Cogent Biosciences in a research note on Monday, March 16th. They set a “buy” rating and a $55.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th. Robert W. Baird set a $35.00 target price on shares of Cogent Biosciences in a research note on Thursday, February 19th. Finally, Wall Street Zen lowered shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Two analysts have rated the stock with a Strong Buy rating, nine have given 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.com, Cogent Biosciences presently has an average rating of “Moderate Buy” and an average price target of $43.73.

Cogent Biosciences Stock Down 0.6%

Cogent Biosciences stock traded down $0.22 during trading on Friday, reaching $35.16. 108,191 shares of the company’s stock were exchanged, compared to its average volume of 2,033,239. Cogent Biosciences has a 52-week low of $5.03 and a 52-week high of $43.73. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of -16.23 and a beta of 0.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.14 and a current ratio of 15.14. The company’s 50-day moving average is $35.27 and its two-hundred day moving average is $36.72.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) EPS for the quarter, meeting the consensus estimate of ($0.53). On average, analysts predict that Cogent Biosciences will post -2.23 earnings per share for the current year.

Institutional Trading of Cogent Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of COGT. Amundi acquired a new position in shares of Cogent Biosciences in the 1st quarter worth approximately $212,000. EverSource Wealth Advisors LLC raised its position in shares of Cogent Biosciences by 127.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,611 shares of the technology company’s stock valued at $62,000 after acquiring an additional 903 shares in the last quarter. California State Teachers Retirement System lifted its stake in Cogent Biosciences by 20.7% during the first quarter. California State Teachers Retirement System now owns 100,980 shares of the technology company’s stock worth $3,887,000 after purchasing an additional 17,297 shares during the last quarter. Royal Bank of Canada lifted its stake in Cogent Biosciences by 233.7% during the first quarter. Royal Bank of Canada now owns 56,260 shares of the technology company’s stock worth $2,165,000 after purchasing an additional 39,403 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in Cogent Biosciences in the first quarter worth $249,000.

Cogent Biosciences Company Profile

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.