Cogent Biosciences’ (COGT) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Cogent Biosciences (NASDAQ:COGT) in a report issued on Tuesday morning,Benzinga reports. They currently have a $55.00 target price on the technology company’s stock.

A number of other equities analysts have also weighed in on COGT. Guggenheim upped their target price on Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Wedbush reissued an “outperform” rating and set a $55.00 price objective on shares of Cogent Biosciences in a report on Friday, May 29th. Wall Street Zen cut shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. Finally, Piper Sandler upped their price objective on shares of Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $51.56.

Cogent Biosciences Trading Up 2.0%

Cogent Biosciences stock opened at $33.19 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 13.57 and a current ratio of 13.57. Cogent Biosciences has a fifty-two week low of $11.60 and a fifty-two week high of $43.73. The stock has a market cap of $5.76 billion, a P/E ratio of -15.37 and a beta of 0.31. The firm’s fifty day moving average price is $37.51 and its 200-day moving average price is $36.22.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings data on Monday, August 10th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.03. Equities research analysts forecast that Cogent Biosciences will post -2.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Cogent Biosciences during the second quarter valued at about $671,547,000. Wellington Management Group LLP increased its holdings in shares of Cogent Biosciences by 21.4% in the second quarter. Wellington Management Group LLP now owns 4,343,977 shares of the technology company’s stock worth $168,112,000 after buying an additional 765,355 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cogent Biosciences by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 3,514,562 shares of the technology company’s stock valued at $124,862,000 after acquiring an additional 240,407 shares during the last quarter. Commodore Capital LP lifted its stake in shares of Cogent Biosciences by 31.5% in the 1st quarter. Commodore Capital LP now owns 2,888,007 shares of the technology company’s stock valued at $111,159,000 after acquiring an additional 691,162 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in Cogent Biosciences by 1,499.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,798,768 shares of the technology company’s stock valued at $68,826,000 after acquiring an additional 1,686,292 shares during the period.

About Cogent Biosciences

Cogent Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for genetically defined diseases. The company uses its research platform to discover and advance targeted therapies designed to address the underlying drivers of serious medical conditions.

Cogent’s lead product candidate is bezuclastinib, an oral, highly selective tyrosine kinase inhibitor designed to target the KIT D816V mutation and other KIT alterations. The company is developing bezuclastinib for systemic mastocytosis, a rare disorder involving the abnormal accumulation of mast cells, including both non-advanced and advanced forms of the disease.

Cogent Biosciences is headquartered in Boulder, Colorado, and conducts its clinical development activities through studies involving patients and research sites in multiple regions.