What is Leerink Partnrs' Estimate for COGT FY2024 Earnings?

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

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last posted 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 quarter in the previous year, the business posted ($0.64) EPS.

A number of other research analysts have also commented on COGT. JPMorgan Chase & Co. increased their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday. Robert W. Baird lifted their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Thursday, September 5th. Wedbush restated a "neutral" rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday, November 12th. HC Wainwright reiterated a "buy" rating and set a $17.00 price target on shares of Cogent Biosciences in a research report on Monday, November 4th. Finally, Needham & Company LLC dropped their price target on shares of Cogent Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $14.83.

Cogent Biosciences Trading Up 1.0 %

Shares of Cogent Biosciences stock traded up $0.09 during midday trading on Monday, reaching $8.99. The company had a trading volume of 2,853,852 shares, compared to its average volume of 1,431,499. The stock has a fifty day simple moving average of $10.95 and a 200 day simple moving average of $9.60. Cogent Biosciences has a 1-year low of $3.67 and a 1-year high of $12.61. The company has a market capitalization of $993.04 million, a price-to-earnings ratio of -3.62 and a beta of 1.72.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Values First Advisors Inc. acquired a new position in shares of Cogent Biosciences in the 3rd quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. grew 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 valued at $43,000 after acquiring an additional 1,104 shares during the period. 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 worth $67,000 after acquiring an additional 7,020 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Cogent Biosciences during the third quarter worth about $76,000. Finally, Quest Partners LLC bought a new position in shares of Cogent Biosciences during the 2nd quarter valued at 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.