Cogent Biosciences, Inc. (NASDAQ:COGT) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Cogent Biosciences has a “Moderate Buy” consensus rating from 12 analysts, with eight buys, one strong buy, two holds and one sell. The average 12-month price target is $51.56, well above the reported opening price of $34.76.
• Analysts have recently raised their outlook, including Piper Sandler increasing its target to $55 and Guggenheim lifting its target to $52, although some firms maintain sell ratings.
• Cogent reported a quarterly loss of $0.52 per share, beating estimates of a $0.55 loss. Analysts expect a full-year loss of approximately $2.25 per share as the clinical-stage biotechnology company advances its CSF1R inhibitor programs.

Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $51.5556.

Several equities research analysts have weighed in on the stock. Piper Sandler increased their target price on shares of Cogent Biosciences from $52.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. Wall Street Zen downgraded Cogent Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday. Wedbush reiterated an "outperform" rating and set a $55.00 target price on shares of Cogent Biosciences in a report on Friday, May 29th. Guggenheim boosted their target price on Cogent Biosciences from $45.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Cogent Biosciences in a report on Wednesday, July 8th.

Cogent Biosciences Price Performance

COGT opened at $34.76 on Friday. The company has a fifty day moving average price of $38.50 and a two-hundred day moving average price of $36.52. The firm has a market capitalization of $6.03 billion, a PE ratio of -16.09 and a beta of 0.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 13.57 and a current ratio of 13.57. Cogent Biosciences has a 52 week low of $11.60 and a 52 week high of $43.73.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings results 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. As a group, analysts anticipate that Cogent Biosciences will post -2.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in shares of Cogent Biosciences by 1,164.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company's stock worth $25,000 after acquiring an additional 652 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in Cogent Biosciences in the 2nd quarter worth $27,000. Osaic Holdings Inc. increased its holdings in Cogent Biosciences by 41.4% during the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company's stock worth $33,000 after purchasing an additional 1,333 shares in the last quarter. Strs Ohio bought a new position in Cogent Biosciences during the 1st quarter worth about $36,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Cogent Biosciences in the 4th quarter valued at about $37,000.

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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