Leerink Partnrs Has Strong Forecast for COGT FY2027 Earnings

Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) - Investment analysts at Leerink Partnrs increased their FY2027 earnings per share (EPS) estimates for Cogent Biosciences in a research note issued on Wednesday, November 13th. Leerink Partnrs analyst A. Berens now expects that the technology company will post earnings of $0.69 per share for the year, up from their previous forecast of $0.61. The consensus estimate for Cogent Biosciences' current full-year earnings is ($2.29) per share.

Several other analysts also recently weighed in on the company. Needham & Company LLC reduced their target price on Cogent Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday. Robert W. Baird boosted their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday, September 5th. HC Wainwright restated a "buy" rating and set a $17.00 target price on shares of Cogent Biosciences in a research report on Monday, November 4th. Wedbush reiterated a "neutral" rating and issued a $11.00 price target on shares of Cogent Biosciences in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an "overweight" rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Cogent Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $14.83.

Cogent Biosciences Stock Down 7.8 %

COGT traded down $0.75 on Friday, reaching $8.90. The company had a trading volume of 1,319,271 shares, compared to its average volume of 1,425,093. Cogent Biosciences has a 1 year low of $3.67 and a 1 year high of $12.61. The stock has a market capitalization of $974.11 million, a PE ratio of -3.89 and a beta of 1.72. The stock has a 50-day moving average price of $11.02 and a 200-day moving average price of $9.53.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its quarterly earnings data 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 last year, the firm posted ($0.64) EPS.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. lifted its holdings in Cogent Biosciences by 124.5% in the second quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company's stock valued at $126,335,000 after acquiring an additional 8,310,150 shares during the period. Kynam Capital Management LP increased its holdings in Cogent Biosciences by 45.2% in the first quarter. Kynam Capital Management LP now owns 8,500,000 shares of the technology company's stock valued at $57,120,000 after buying an additional 2,645,234 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its position in shares of Cogent Biosciences by 144.0% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company's stock valued at $31,564,000 after acquiring an additional 2,209,918 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Cogent Biosciences by 12,785.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,099,357 shares of the technology company's stock worth $14,097,000 after acquiring an additional 2,083,065 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Cogent Biosciences by 27.1% in the 1st quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company's stock worth $38,746,000 after acquiring an additional 1,231,050 shares during the period.

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.