Leerink Partnrs Has Bullish Outlook for COGT FY2027 Earnings

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

COGT has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and issued a $17.00 price objective on shares of Cogent Biosciences in a report on Monday, November 4th. JPMorgan Chase & Co. raised their price target on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday. Wedbush reaffirmed a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday. Needham & Company LLC dropped their price objective on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Robert W. Baird boosted their target price on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Stock Down 7.8 %

Shares of NASDAQ:COGT opened at $8.90 on Friday. Cogent Biosciences has a fifty-two week low of $3.67 and a fifty-two week high of $12.61. The firm’s 50 day moving average price is $10.99 and its 200 day moving average price is $9.55. The stock has a market cap of $974.11 million, a price-to-earnings ratio of -3.59 and a beta of 1.72.

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

Hedge Funds Weigh In On Cogent Biosciences

Several hedge funds have recently made changes to their positions in COGT. Point72 Asset Management L.P. boosted its position in shares of Cogent Biosciences by 124.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock valued at $126,335,000 after purchasing an additional 8,310,150 shares during the period. Kynam Capital Management LP increased its holdings in shares of Cogent Biosciences by 45.2% in the 1st quarter. Kynam Capital Management LP now owns 8,500,000 shares of the technology company’s stock valued at $57,120,000 after acquiring an additional 2,645,234 shares during the period. FMR LLC raised its position in Cogent Biosciences by 8.1% in the 3rd quarter. FMR LLC now owns 8,319,411 shares of the technology company’s stock valued at $89,850,000 after purchasing an additional 625,743 shares during the last quarter. Vanguard Group Inc. boosted its stake in Cogent Biosciences by 27.1% during the 1st quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock worth $38,746,000 after purchasing an additional 1,231,050 shares during the period. Finally, Redmile Group LLC boosted its stake in Cogent Biosciences by 36.0% during the 1st quarter. Redmile Group LLC now owns 3,962,602 shares of the technology company’s stock worth $26,629,000 after purchasing an additional 1,048,580 shares during the period.

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.