Cogent Biosciences (NASDAQ:COGT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cogent Biosciences (NASDAQ:COGT - Get Free Report) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $25.00 to $29.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 164.00% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Robert W. Baird upped their price target on shares of Cogent Biosciences from $7.00 to $9.00 and gave the stock a "neutral" rating in a research report on Tuesday. Wedbush reaffirmed a "neutral" rating and set a $10.00 price objective on shares of Cogent Biosciences in a research report on Monday, June 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cogent Biosciences in a research report on Tuesday, June 17th. HC Wainwright boosted their price target on shares of Cogent Biosciences from $12.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Guggenheim reiterated a "buy" rating and set a $17.00 target price on shares of Cogent Biosciences in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Cogent Biosciences Stock Up 5.6%

Shares of COGT traded up $0.59 during trading hours on Thursday, reaching $10.99. 3,380,313 shares of the company traded hands, compared to its average volume of 1,545,396. The stock has a market capitalization of $1.25 billion, a P/E ratio of -5.99 and a beta of 1.88. Cogent Biosciences has a 12-month low of $3.72 and a 12-month high of $12.61. The business has a fifty day moving average price of $6.33 and a 200-day moving average price of $6.79.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.04. As a group, research analysts predict that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Institutional Trading of Cogent Biosciences

Institutional investors have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of Cogent Biosciences in the 1st quarter worth approximately $36,000. CWM LLC lifted its stake in Cogent Biosciences by 11,869.9% during the first quarter. CWM LLC now owns 8,738 shares of the technology company's stock valued at $52,000 after purchasing an additional 8,665 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Cogent Biosciences during the fourth quarter valued at approximately $78,000. Hsbc Holdings PLC acquired a new stake in Cogent Biosciences during the fourth quarter valued at approximately $81,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Cogent Biosciences during the fourth quarter valued at approximately $88,000.

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.

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