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

Cogent Biosciences, Inc. (NASDAQ:COGT) has received an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $51.56.

A number of brokerages recently issued reports on COGT. 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 research report on Monday, August 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, October 2nd. Wall Street Zen lowered shares of Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. Wedbush reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Cogent Biosciences in a report on Wednesday, September 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research note on Tuesday, September 15th.

Cogent Biosciences Trading Up 0.7%

COGT stock opened at $32.23 on Monday. 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 $5.59 billion, a P/E ratio of -14.92 and a beta of 0.31. The business’s 50 day moving average is $32.61 and its 200-day moving average is $35.74. The company has a current ratio of 13.57, a quick ratio of 13.57 and a debt-to-equity ratio of 0.48.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of COGT. China Universal Asset Management Co. Ltd. increased its stake in shares of Cogent Biosciences by 16.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 31,661 shares of the technology company’s stock valued at $1,002,000 after buying an additional 4,467 shares during the period. Sterling Capital Management LLC raised its position in shares of Cogent Biosciences by 838.9% during the third quarter. Sterling Capital Management LLC now owns 5,502 shares of the technology company’s stock worth $176,000 after acquiring an additional 4,916 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Cogent Biosciences during the second quarter worth $29,000. Maven Securities LTD acquired a new position in shares of Cogent Biosciences during the second quarter valued at $774,000. Finally, Arizona State Retirement System lifted its position in Cogent Biosciences by 47.1% during the 2nd quarter. Arizona State Retirement System now owns 33,870 shares of the technology company’s stock valued at $1,311,000 after purchasing an additional 10,847 shares during the period.

About Cogent Biosciences

Cogent Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for genetically defined diseases. The company uses molecular biology and drug-discovery technologies to design therapies intended to target disease-driving mutations while limiting activity in healthy tissues.

Cogent’s lead product candidate is bezuclastinib, also known as CGT9486, an investigational, highly selective inhibitor of the KIT D816V mutation. The company is developing bezuclastinib for systemic mastocytosis, a rare disorder involving the abnormal accumulation of mast cells, including both indolent and advanced forms of the disease.

Cogent conducts its research and clinical-development activities primarily in the United States and works with clinical centers and research partners in support of its development programs.