Leerink Partners Increases Cogent Biosciences (NASDAQ:COGT) Price Target to $18.00

Cogent Biosciences (NASDAQ:COGT - Free Report) had its price objective increased by Leerink Partners from $16.00 to $18.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the technology company's stock.

Other research analysts have also recently issued reports about the company. HC Wainwright decreased their target price on Cogent Biosciences from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, May 20th. Wedbush reaffirmed a "neutral" rating and issued a $10.00 price target on shares of Cogent Biosciences in a research note on Monday, June 30th. JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences from $21.00 to $25.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Robert W. Baird dropped their price objective on shares of Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Cogent Biosciences in a research note on Tuesday, June 17th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.00.

Cogent Biosciences Trading Up 4.3%

NASDAQ COGT traded up $0.45 during trading hours on Monday, reaching $10.85. 6,140,974 shares of the company's stock were exchanged, compared to its average volume of 1,559,930. The firm has a fifty day moving average of $6.33 and a 200-day moving average of $6.79. Cogent Biosciences has a one year low of $3.72 and a one year high of $12.61. The stock has a market cap of $1.24 billion, a PE ratio of -5.90 and a beta of 1.88.

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

Institutional Trading of Cogent Biosciences

Large investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in shares of Cogent Biosciences during the 1st quarter valued at approximately $36,000. CWM LLC lifted its position in shares of Cogent Biosciences by 11,869.9% during the first quarter. CWM LLC now owns 8,738 shares of the technology company's stock worth $52,000 after acquiring an additional 8,665 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Cogent Biosciences in the fourth quarter valued at $78,000. Hsbc Holdings PLC purchased a new stake in Cogent Biosciences during the 4th quarter worth about $81,000. Finally, KLP Kapitalforvaltning AS bought a new position in Cogent Biosciences in the 4th quarter worth about $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.