FY2024 Earnings Forecast for COGT Issued By Leerink Partnrs

Cogent Biosciences, Inc. (NASDAQ:COGT) – Analysts at Leerink Partnrs increased their FY2024 EPS estimates for Cogent Biosciences in a research note issued to investors on Wednesday, November 13th. Leerink Partnrs analyst A. Berens now expects that the technology company will post earnings of ($2.53) per share for the year, up from their previous forecast 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.

Several other research analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their target price 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. HC Wainwright reissued a “buy” rating and set a $17.00 price objective on shares of Cogent Biosciences in a research report on Monday, November 4th. Robert W. Baird increased their target price on Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Wedbush reaffirmed a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research report on Tuesday, November 12th. Finally, Citigroup upped their target price on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cogent Biosciences has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Trading Up 0.8 %

Shares of Cogent Biosciences stock opened at $9.06 on Monday. The firm has a fifty day simple moving average of $10.92 and a 200-day simple moving average of $9.61. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -3.65 and a beta of 1.72. Cogent Biosciences has a 1-year low of $3.67 and a 1-year high of $12.61.

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

Hedge Funds Weigh In On Cogent Biosciences

A number of hedge funds have recently modified their holdings of the stock. Values First Advisors Inc. bought a new stake in Cogent Biosciences in the third quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cogent Biosciences by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,104 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Cogent Biosciences by 234.5% in the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock valued at $67,000 after purchasing an additional 7,020 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Cogent Biosciences in the 3rd quarter valued at $76,000. Finally, Quest Partners LLC acquired a new stake in Cogent Biosciences in the second quarter worth about $89,000.

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.