Cogent Biosciences, Inc. (NASDAQ:COGT) Stock Has Consensus Price Target of $51.56

Key Points

• Analyst sentiment is moderately bullish: Twelve analysts give Cogent Biosciences a consensus “Moderate Buy” rating, with an average 12-month price target of $51.56 versus shares opening at $32.02.
• Institutional ownership increased: Major investors including Wellington Management, Assenagon Asset Management and UBS expanded their positions, while several other firms initiated new stakes.
• 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 $2.23 per share as the clinical-stage biotech advances bezuclastinib for KIT-driven diseases.

Cogent Biosciences, Inc. (NASDAQ:COGT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating 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.

A number of equities analysts recently weighed in on COGT shares. Wall Street Zen cut Cogent Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, September 5th. Wedbush reaffirmed an "outperform" rating and set a $55.00 price objective on shares of Cogent Biosciences in a research note on Wednesday, September 16th. HC Wainwright reiterated a "buy" rating and issued a $55.00 target price on shares of Cogent Biosciences in a report on Tuesday, September 15th. Guggenheim lifted their target price on shares of Cogent Biosciences from $45.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Finally, Piper Sandler boosted their price target on shares of Cogent Biosciences from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, August 17th.

Institutional Trading of Cogent Biosciences

Several large investors have recently added to or reduced their stakes in the company. Sculptor Capital LP acquired a new stake in shares of Cogent Biosciences in the second quarter worth $1,935,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cogent Biosciences by 26.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 209,402 shares of the technology company's stock valued at $8,104,000 after buying an additional 43,892 shares during the period. SEB Asset Management AB purchased a new stake in Cogent Biosciences in the 1st quarter worth about $6,329,000. Wellington Management Group LLP lifted its stake in Cogent Biosciences by 21.4% in the 2nd quarter. Wellington Management Group LLP now owns 4,343,977 shares of the technology company's stock worth $168,112,000 after acquiring an additional 765,355 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Cogent Biosciences by 387.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,441,756 shares of the technology company's stock worth $55,796,000 after acquiring an additional 1,146,106 shares during the period.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $32.02 on Thursday. The company has a market capitalization of $5.56 billion, a PE ratio of -14.82 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. The stock has a fifty day moving average of $36.27 and a 200-day moving average of $35.90. Cogent Biosciences has a one year low of $13.78 and a one year high of $43.73.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.55) by $0.03. As a group, equities analysts anticipate 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 therapies for genetically defined diseases. The company's research programs are designed to selectively target disease-driving proteins while minimizing effects on healthy cells.

Cogent's lead product candidate is bezuclastinib, also known as CGT948, an oral, highly selective inhibitor of the KIT D816V mutation and other KIT alterations. The company is evaluating bezuclastinib in systemic mastocytosis, a disorder involving the abnormal growth and accumulation of mast cells, as well as in gastrointestinal stromal tumors (GIST) and other KIT-driven diseases.

Cogent conducts research and clinical development activities in the United States and works with healthcare professionals, patients and research institutions through its clinical programs.

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