Cogent Biosciences, Inc. (NASDAQ:COGT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $32.3333.

A number of research analysts have weighed in on COGT shares. Guggenheim boosted their target price on shares of Cogent Biosciences from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Wedbush raised shares of Cogent Biosciences from a “neutral” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Monday, November 10th. 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 price objective for the company. JPMorgan Chase & Co. raised their target price on Cogent Biosciences from $30.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Monday, November 24th.

Hedge Funds Weigh In On Cogent Biosciences

Several large investors have recently modified their holdings of COGT. Osaic Holdings Inc. increased its stake 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 valued at $33,000 after buying an additional 1,333 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cogent Biosciences by 22.8% in the third 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. CWM LLC increased 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 valued at $80,000 after purchasing an additional 1,126 shares during the period. Strs Ohio bought a new position in Cogent Biosciences in the 1st quarter worth $36,000. Finally, Gordian Capital Singapore Pte Ltd lifted its position in shares of Cogent Biosciences by 181.3% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 9,000 shares of the technology company’s stock worth $129,000 after purchasing an additional 5,800 shares during the period.

Cogent Biosciences Trading Up 0.4%

Shares of Cogent Biosciences stock opened at $39.31 on Friday. The firm has a market cap of $5.60 billion, a PE ratio of -23.97 and a beta of 0.50. Cogent Biosciences has a 1 year low of $3.72 and a 1 year high of $41.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.38 and a quick ratio of 6.38. The stock has a fifty day moving average price of $23.55 and a 200-day moving average price of $14.65.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.04. Equities research analysts anticipate that Cogent Biosciences will post -2.42 EPS for the current year.

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.