Leerink Partnrs Brokers Increase Earnings Estimates for COGT

Cogent Biosciences, Inc. (NASDAQ:COGT) – Research analysts at Leerink Partnrs lifted their FY2027 earnings per share estimates for Cogent Biosciences in a report released on Wednesday, November 13th. Leerink Partnrs analyst A. Berens now expects that the technology company will post earnings of $0.69 per share for the year, up from their previous forecast of $0.61. The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.29) per share.

Cogent Biosciences (NASDAQ:COGT) last issued its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter last year, the business earned ($0.64) EPS.

Several other equities research analysts have also recently commented on the company. Citigroup boosted their target price on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. raised their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday. Wedbush reiterated a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Cogent Biosciences in a report on Monday, November 4th. Finally, Robert W. Baird boosted their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.83.

Cogent Biosciences Stock Performance

Shares of COGT opened at $8.90 on Friday. The firm has a market capitalization of $974.11 million, a PE ratio of -3.59 and a beta of 1.72. Cogent Biosciences has a 52-week low of $3.67 and a 52-week high of $12.61. The stock has a 50 day simple moving average of $10.99 and a 200 day simple moving average of $9.57.

Institutional Investors Weigh In On Cogent Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cogent Biosciences by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,104 shares during the period. Verition Fund Management LLC increased its position in shares of Cogent Biosciences by 7.5% during the third quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock valued at $337,000 after buying an additional 2,176 shares during the period. SkyView Investment Advisors LLC grew its position in Cogent Biosciences by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock worth $105,000 after buying an additional 2,500 shares in the last quarter. ProShare Advisors LLC raised its stake in Cogent Biosciences by 15.3% in the first quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock valued at $149,000 after purchasing an additional 2,953 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Cogent Biosciences during the third quarter valued at about $32,000.

About Cogent Biosciences

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.