What is Leerink Partnrs' Forecast for COGT FY2027 Earnings?

Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) - Research analysts at Leerink Partnrs cut their FY2027 EPS estimates for shares of Cogent Biosciences in a note issued to investors on Monday, July 14th. Leerink Partnrs analyst A. Berens now forecasts that the technology company will post earnings of $0.96 per share for the year, down from their previous forecast of $1.04. The consensus estimate for Cogent Biosciences' current full-year earnings is ($2.42) per share.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Cogent Biosciences from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Needham & Company LLC reiterated a "hold" rating on shares of Cogent Biosciences in a report on Tuesday, June 17th. Jefferies Financial Group boosted their price objective on shares of Cogent Biosciences from $23.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Robert W. Baird boosted their price objective on shares of Cogent Biosciences from $7.00 to $9.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, Wedbush reiterated a "neutral" rating and issued a $10.00 price objective on shares of Cogent Biosciences in a report on Monday, June 30th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Cogent Biosciences Stock Up 3.1%

Shares of COGT traded up $0.36 during mid-day trading on Wednesday, reaching $11.86. 2,384,067 shares of the stock traded hands, compared to its average volume of 1,600,803. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -6.45 and a beta of 1.88. The stock has a fifty day simple moving average of $6.78 and a 200 day simple moving average of $6.88. Cogent Biosciences has a 12-month low of $3.72 and a 12-month high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last announced its quarterly earnings data 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.

Insider Buying and Selling at Cogent Biosciences

In other Cogent Biosciences news, Director Fairmount Funds Management Llc acquired 2,777,777 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was acquired at an average price of $9.00 per share, with a total value of $24,999,993.00. Following the transaction, the director directly owned 9,003,418 shares in the company, valued at approximately $81,030,762. This represents a 44.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in Cogent Biosciences by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company's stock worth $5,924,000 after purchasing an additional 124,069 shares during the last quarter. Rhumbline Advisers grew its position in Cogent Biosciences by 3.9% in the 1st quarter. Rhumbline Advisers now owns 130,458 shares of the technology company's stock worth $781,000 after purchasing an additional 4,877 shares during the last quarter. Strs Ohio bought a new position in Cogent Biosciences in the 1st quarter worth about $36,000. Jane Street Group LLC grew its position in Cogent Biosciences by 66.2% in the 1st quarter. Jane Street Group LLC now owns 123,822 shares of the technology company's stock worth $742,000 after purchasing an additional 49,338 shares during the last quarter. Finally, Woodline Partners LP grew its position in Cogent Biosciences by 175.2% in the 1st quarter. Woodline Partners LP now owns 1,687,540 shares of the technology company's stock worth $10,108,000 after purchasing an additional 1,074,375 shares during the last quarter.

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.