Wedbush Increases Earnings Estimates for Cogent Biosciences

Cogent Biosciences, Inc. (NASDAQ:COGT) – Stock analysts at Wedbush lifted their FY2026 EPS estimates for Cogent Biosciences in a note issued to investors on Monday, June 30th. Wedbush analyst D. Nierengarten now forecasts that the technology company will earn ($1.12) per share for the year, up from their prior estimate of ($1.13). Wedbush has a “Neutral” rating and a $10.00 price objective on the stock. The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.42) per share. Wedbush also issued estimates for Cogent Biosciences’ FY2027 earnings at ($0.78) EPS and FY2028 earnings at ($0.23) EPS.

Other research analysts also recently issued reports about the company. Scotiabank started coverage on Cogent Biosciences in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $17.00 price target for the company. Robert W. Baird reduced their price target on shares of Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Cogent Biosciences from $21.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, May 29th. Piper Sandler upgraded Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. Finally, HC Wainwright decreased their target price on Cogent Biosciences from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cogent Biosciences has a consensus rating of “Moderate Buy” and an average target price of $14.43.

Cogent Biosciences Trading Up 2.6%

Shares of NASDAQ:COGT opened at $7.41 on Thursday. Cogent Biosciences has a 12-month low of $3.72 and a 12-month high of $12.61. The company has a market cap of $843.70 million, a PE ratio of -4.03 and a beta of 1.88. The stock has a 50 day moving average of $5.92 and a 200 day moving average of $6.76.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.04.

Hedge Funds Weigh In On Cogent Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in COGT. FMR LLC grew its holdings in Cogent Biosciences by 99.2% during the 4th quarter. FMR LLC now owns 16,569,256 shares of the technology company’s stock worth $129,240,000 after acquiring an additional 8,249,845 shares in the last quarter. Paradigm Biocapital Advisors LP increased its holdings in shares of Cogent Biosciences by 82.3% in the 1st quarter. Paradigm Biocapital Advisors LP now owns 8,963,655 shares of the technology company’s stock valued at $53,692,000 after acquiring an additional 4,046,243 shares during the period. Vestal Point Capital LP bought a new position in shares of Cogent Biosciences in the 1st quarter worth $17,970,000. Octagon Capital Advisors LP lifted its stake in shares of Cogent Biosciences by 111.7% during the 4th quarter. Octagon Capital Advisors LP now owns 2,763,000 shares of the technology company’s stock worth $21,551,000 after purchasing an additional 1,458,000 shares during the last quarter. Finally, Woodline Partners LP lifted its stake in shares of Cogent Biosciences by 175.2% during the 1st quarter. Woodline Partners LP now owns 1,687,540 shares of the technology company’s stock worth $10,108,000 after purchasing an additional 1,074,375 shares during the last quarter.

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.