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

Cogent Biosciences, Inc. (NASDAQ:COGT) has earned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $51.56.

COGT has been the subject of a number of research analyst reports. Guggenheim lifted their price objective on shares of Cogent Biosciences from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Wall Street Zen cut Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th. Piper Sandler lifted their price target on Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Finally, Wedbush reiterated an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a report on Wednesday, September 16th.

Institutional Trading of Cogent Biosciences

A number of hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after buying an additional 652 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Cogent Biosciences during the second quarter worth approximately $27,000. Integrated Wealth Concepts LLC purchased a new position in shares of Cogent Biosciences during the second quarter worth approximately $29,000. Parallel Advisors LLC bought a new stake in shares of Cogent Biosciences in the 1st quarter worth approximately $39,000. Finally, Summit Securities Group LLC bought a new stake in shares of Cogent Biosciences in the 1st quarter worth approximately $46,000.

Cogent Biosciences Trading Down 0.5%

Shares of Cogent Biosciences stock opened at $30.87 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 13.57 and a quick ratio of 13.57. Cogent Biosciences has a 1 year low of $13.78 and a 1 year high of $43.73. The firm has a market cap of $5.36 billion, a PE ratio of -14.29 and a beta of 0.31. The company has a 50 day simple moving average of $35.73 and a two-hundred day simple moving average of $35.82.

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

About Cogent Biosciences

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.