Cogent Biosciences (NASDAQ:COGT) Receives “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Cogent Biosciences (NASDAQ:COGT) in a research note issued to investors on Friday morning,Benzinga reports. Wedbush currently has a $55.00 target price on the technology company’s stock.

A number of other equities analysts also recently issued reports on the company. Piper Sandler raised their price objective on Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Friday, April 10th. Jefferies Financial Group initiated coverage on Cogent Biosciences in a research report on Monday, March 16th. They set a “buy” rating and a $55.00 price objective for the company. Robert W. Baird set a $35.00 price objective on Cogent Biosciences in a research report on Thursday, February 19th. Finally, Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Two research 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 given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.73.

Cogent Biosciences Price Performance

Shares of COGT opened at $34.96 on Friday. Cogent Biosciences has a 1 year low of $5.03 and a 1 year high of $43.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of -16.11 and a beta of 0.37. The business has a 50-day moving average of $35.28 and a 200-day moving average of $36.71.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.53). As a group, equities research analysts anticipate that Cogent Biosciences will post -2.23 earnings per share for the current year.

Institutional Investors Weigh In On Cogent Biosciences

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after purchasing an additional 652 shares in the last quarter. Parallel Advisors LLC bought a new stake in Cogent Biosciences in the first quarter worth approximately $39,000. Global Retirement Partners LLC bought a new stake in Cogent Biosciences in the fourth quarter worth approximately $37,000. Summit Securities Group LLC bought a new stake in Cogent Biosciences in the first quarter worth approximately $46,000. Finally, PNC Financial Services Group Inc. increased its holdings in Cogent Biosciences by 414.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,032 shares in the last quarter.

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.