Leerink Partnrs Issues Optimistic Forecast for COGT Earnings

Cogent Biosciences, Inc. (NASDAQ:COGT) – Equities researchers at Leerink Partnrs increased their FY2027 earnings per share estimates for shares of Cogent Biosciences in a report released on Wednesday, November 13th. Leerink Partnrs analyst A. Berens now forecasts that the technology company will earn $0.69 per share for the year, up from their prior estimate of $0.61. The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.29) per share.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same period last year, the firm posted ($0.64) EPS.

A number of other equities analysts have also recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $17.00 price objective on shares of Cogent Biosciences in a report on Monday, November 4th. Wedbush reaffirmed a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday, November 12th. 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 report on Tuesday, September 24th. Robert W. Baird raised their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.83.

Cogent Biosciences Stock Down 7.8 %

Cogent Biosciences stock opened at $8.90 on Friday. The company has a market cap of $974.11 million, a PE ratio of -3.59 and a beta of 1.72. The company’s 50-day moving average price is $10.99 and its 200-day moving average price is $9.57. Cogent Biosciences has a twelve month low of $3.67 and a twelve month high of $12.61.

Hedge Funds Weigh In On Cogent Biosciences

Hedge funds have recently made changes to their positions in the stock. Values First Advisors Inc. acquired a new stake in shares of Cogent Biosciences during the third quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Cogent Biosciences by 38.7% in 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 during the period. nVerses Capital LLC acquired a new position in shares of Cogent Biosciences in the third quarter worth $76,000. Russell Investments Group Ltd. grew its stake in Cogent Biosciences by 234.5% during the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock worth $67,000 after purchasing an additional 7,020 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in Cogent Biosciences during the 3rd quarter worth about $113,000.

About Cogent Biosciences

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.