Cogent Biosciences, Inc. (COGT) - What Are Investment Firms Saying About This Stock?

Key Points

• Analysts maintain a Moderate Buy consensus on Cogent Biosciences, with eight buy ratings, one strong buy, two holds and one sell. The average 12-month price target is $51.56, above the reported $31.21 share price.
• Recent research actions were generally favorable: Guggenheim raised its target to $52, while Wedbush and HC Wainwright maintained positive ratings with $55 targets. However, Wall Street Zen downgraded the stock to sell, and Weiss Ratings reiterated a sell rating.
• Cogent is a clinical-stage biotechnology company developing precision medicines, led by bezuclastinib for systemic mastocytosis. The company reported a quarterly loss of $0.52 per share, beating the consensus estimate of a $0.55 loss.

Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) has received a consensus rating of "Moderate Buy" from the twelve ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $51.56.

COGT has been the subject of a number of research analyst reports. Guggenheim boosted their price target on Cogent Biosciences from $45.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Wedbush restated an "outperform" rating and issued a $55.00 target price on shares of Cogent Biosciences in a research report on Wednesday, September 16th. HC Wainwright reaffirmed a "buy" rating and set a $55.00 target price on shares of Cogent Biosciences in a report on Tuesday, September 15th. Wall Street Zen downgraded shares of Cogent Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, September 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cogent Biosciences in a report on Friday, October 2nd.

Institutional Trading of Cogent Biosciences

A number of hedge funds have recently bought and sold shares of COGT. J.Safra Asset Management Corp bought a new position in Cogent Biosciences during the second quarter valued at about $27,000. Integrated Wealth Concepts LLC bought a new position in shares of Cogent Biosciences during the second quarter valued at $29,000. Parallel Advisors LLC acquired a new stake in shares of Cogent Biosciences during the first quarter worth approximately $39,000. Summit Securities Group LLC bought a new position in Cogent Biosciences in the 1st quarter valued at $46,000. Finally, Quantbot Technologies LP acquired a new stake in Cogent Biosciences in the 2nd quarter valued at about $53,000.

Cogent Biosciences Stock Performance

COGT opened at $31.21 on Monday. The firm has a market capitalization of $5.42 billion, a P/E ratio of -14.45 and a beta of 0.31. Cogent Biosciences has a 52-week low of $13.78 and a 52-week high of $43.73. The company has a quick ratio of 13.57, a current ratio of 13.57 and a debt-to-equity ratio of 0.48. The firm's 50 day moving average is $32.91 and its 200-day moving average is $35.29.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The technology company reported ($0.52) earnings per share for the quarter, beating analysts' consensus estimates of ($0.55) by $0.03. Analysts expect that Cogent Biosciences will post -2.23 EPS for the current fiscal year.

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 molecular biology and drug-discovery technologies to design therapies intended to target disease-driving mutations while limiting activity in healthy tissues.

Cogent's lead product candidate is bezuclastinib, also known as CGT9486, an investigational, highly selective inhibitor of the KIT D816V mutation. The company is developing bezuclastinib for systemic mastocytosis, a rare disorder involving the abnormal accumulation of mast cells, including both indolent and advanced forms of the disease.

Cogent conducts its research and clinical-development activities primarily in the United States and works with clinical centers and research partners in support of its development programs.

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