Cogent Biosciences, Inc. (NASDAQ:COGT) Stock Has Consensus Target Price of $51.56 According to Analysts

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have received an average rating of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $51.56.

Several equities analysts have recently issued reports on COGT shares. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Cogent Biosciences in a report on Tuesday, September 15th. Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. Piper Sandler boosted their price objective on Cogent Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Wedbush restated an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a report on Wednesday, September 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th.

Institutional Investors Weigh In On Cogent Biosciences

Several institutional investors have recently added to or reduced their stakes in COGT. EverSource Wealth Advisors LLC raised its position in Cogent Biosciences by 1,164.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock valued at $25,000 after buying an additional 652 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in Cogent Biosciences during the 2nd quarter valued at about $27,000. Integrated Wealth Concepts LLC bought a new position in shares of Cogent Biosciences in the second quarter worth $29,000. Parallel Advisors LLC purchased a new stake in shares of Cogent Biosciences in the 1st quarter valued at about $39,000. Finally, Summit Securities Group LLC purchased a new position in Cogent Biosciences in the 1st quarter worth approximately $46,000.

Cogent Biosciences Stock Down 1.8%

Shares of Cogent Biosciences stock opened at $31.02 on Thursday. The business has a fifty day simple moving average of $35.92 and a 200 day simple moving average of $35.85. The stock has a market cap of $5.38 billion, a PE ratio of -14.36 and a beta of 0.31. 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 12 month low of $13.78 and a 12 month high of $43.73.

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

Cogent Biosciences Company Profile

Cogent Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision therapies for genetically defined diseases. The company’s research programs are designed to selectively target disease-driving proteins while minimizing effects on healthy cells.

Cogent’s lead product candidate is bezuclastinib, also known as CGT948, an oral, highly selective inhibitor of the KIT D816V mutation and other KIT alterations. The company is evaluating bezuclastinib in systemic mastocytosis, a disorder involving the abnormal growth and accumulation of mast cells, as well as in gastrointestinal stromal tumors (GIST) and other KIT-driven diseases.

Cogent conducts research and clinical development activities in the United States and works with healthcare professionals, patients and research institutions through its clinical programs.