Leerink Partnrs Has Strong Estimate for COGT FY2024 Earnings

Cogent Biosciences, Inc. (NASDAQ:COGT) – Stock analysts at Leerink Partnrs raised their FY2024 EPS estimates for shares of Cogent Biosciences in a research report issued on Wednesday, November 13th. Leerink Partnrs analyst A. Berens now expects that the technology company will post earnings per share of ($2.53) for the year, up from their previous estimate of ($2.56). The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.40) per share. Leerink Partnrs also issued estimates for Cogent Biosciences’ Q4 2024 earnings at ($0.67) EPS, FY2025 earnings at ($2.41) EPS and FY2026 earnings at ($1.33) EPS.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same quarter in the prior year, the company earned ($0.64) earnings per share.

COGT has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Robert W. Baird increased their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Citigroup raised their price target on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC dropped their price objective on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, HC Wainwright reissued a “buy” rating and set a $17.00 price objective on shares of Cogent Biosciences in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $8.99 on Monday. Cogent Biosciences has a 1 year low of $3.67 and a 1 year high of $12.61. The company has a market capitalization of $993.04 million, a PE ratio of -3.62 and a beta of 1.72. The business has a fifty day moving average price of $10.95 and a two-hundred day moving average price of $9.60.

Institutional Trading of Cogent Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in COGT. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cogent Biosciences by 38.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after buying an additional 1,104 shares in the last quarter. Verition Fund Management LLC grew its stake in Cogent Biosciences by 7.5% during the third quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock valued at $337,000 after acquiring an additional 2,176 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in Cogent Biosciences by 25.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock worth $105,000 after acquiring an additional 2,500 shares during the period. ProShare Advisors LLC lifted its stake in Cogent Biosciences by 15.3% in the 1st quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock worth $149,000 after purchasing an additional 2,953 shares in the last quarter. Finally, Values First Advisors Inc. bought a new position in Cogent Biosciences in the 3rd quarter valued at $32,000.

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.