Cogent Biosciences (NASDAQ:COGT) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Cogent Biosciences (NASDAQ:COGT) in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $17.00 price target on the technology company’s stock.

Several other research analysts also recently issued reports on the company. Robert W. Baird boosted their price objective on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. reduced their price target on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Wedbush reiterated a “neutral” rating and issued a $11.00 price target (up from $10.00) on shares of Cogent Biosciences in a research report on Tuesday, September 3rd. Citigroup lifted their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Cogent Biosciences in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $10.05 on Monday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -4.23 and a beta of 1.72. The business’s 50 day simple moving average is $11.11 and its 200-day simple moving average is $9.40. Cogent Biosciences has a 12 month low of $3.67 and a 12 month high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, August 6th. The technology company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same period in the prior year, the firm posted ($0.59) earnings per share. On average, equities analysts anticipate that Cogent Biosciences will post -2.25 earnings per share for the current year.

Institutional Investors Weigh In On Cogent Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Values First Advisors Inc. purchased a new position in Cogent Biosciences during the third quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cogent Biosciences by 38.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after acquiring an additional 1,104 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Cogent Biosciences by 234.5% during the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock worth $67,000 after acquiring an additional 7,020 shares during the period. nVerses Capital LLC acquired a new stake in shares of Cogent Biosciences in the third quarter worth approximately $76,000. Finally, Quest Partners LLC purchased a new stake in Cogent Biosciences in the second quarter valued at approximately $89,000.

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.