Cogent Biosciences, Inc. (NASDAQ:COGT) Receives $51.56 Average Price Target from Analysts

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $51.5556.

Several research firms have weighed in on COGT. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Piper Sandler increased their target price on Cogent Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Guggenheim increased their target price on Cogent Biosciences from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research report on Friday, May 29th. Finally, Wall Street Zen cut shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th.

Cogent Biosciences Stock Down 2.0%

COGT opened at $33.41 on Friday. The company has a market capitalization of $5.80 billion, a PE ratio of -15.47 and a beta of 0.31. The firm has a 50-day simple moving average of $38.07 and a two-hundred day simple moving average of $36.41. The company has a quick ratio of 13.57, a current ratio of 13.57 and a debt-to-equity ratio of 0.48. Cogent Biosciences has a 52 week low of $11.60 and a 52 week high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.03. Analysts forecast that Cogent Biosciences will post -2.25 earnings per share for the current fiscal year.

Institutional Trading of Cogent Biosciences

A number of large investors have recently made changes to their positions in COGT. Steward Partners Investment Advisory LLC grew its position in Cogent Biosciences by 16.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,159 shares of the technology company’s stock valued at $77,000 after acquiring an additional 300 shares during the last quarter. Optimize Financial Inc lifted its position in shares of Cogent Biosciences by 1.4% during the fourth quarter. Optimize Financial Inc now owns 33,024 shares of the technology company’s stock worth $1,173,000 after purchasing an additional 472 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Cogent Biosciences by 1,164.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after purchasing an additional 652 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Cogent Biosciences during the second quarter valued at $27,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Cogent Biosciences during the second quarter valued at $29,000.

Cogent Biosciences Company Profile

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.