Cogent Biosciences, Inc. (NASDAQ:COGT) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Cogent Biosciences has an average analyst rating of “Moderate Buy” from 13 research firms, with a consensus 12-month price target of $45.90.
• Recent analyst actions were mixed: Wedbush and HC Wainwright reiterated bullish ratings with $55 targets, while Weiss Ratings maintained a sell rating.
• The company reported Q1 EPS of -$0.53, matching expectations, and analysts currently forecast full-year EPS of -$2.26; Cogent is also a clinical-stage biopharmaceutical company developing an oral CSF1R inhibitor for solid tumors.

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirteen research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $45.90.

A number of research firms have weighed in on COGT. Wedbush restated an "outperform" rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Friday, May 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cogent Biosciences in a report on Wednesday, July 8th. Finally, HC Wainwright increased their price objective on Cogent Biosciences to $55.00 and gave the company a "buy" rating in a report on Wednesday, May 6th.

Cogent Biosciences Price Performance

Shares of NASDAQ COGT opened at $39.08 on Friday. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of -18.01 and a beta of 0.34. The business has a 50-day moving average of $35.30 and a 200-day moving average of $36.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.14 and a quick ratio of 15.14. Cogent Biosciences has a fifty-two week low of $10.38 and a fifty-two week high of $43.73.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.53). As a group, sell-side analysts predict that Cogent Biosciences will post -2.26 earnings per share for the current fiscal year.

Institutional Trading of Cogent Biosciences

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of Cogent Biosciences by 1,164.3% during the 4th 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. Parallel Advisors LLC acquired a new stake in Cogent Biosciences in the 1st quarter valued at about $39,000. Global Retirement Partners LLC acquired a new stake in Cogent Biosciences in the 4th quarter valued at about $37,000. Summit Securities Group LLC bought a new position in Cogent Biosciences during the first quarter worth about $46,000. Finally, PNC Financial Services Group Inc. increased its position in Cogent Biosciences by 414.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company's stock worth $46,000 after buying an additional 1,032 shares during the last quarter.

About Cogent Biosciences

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.

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