Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) - Analysts at HC Wainwright upped their Q3 2024 earnings per share estimates for Cogent Biosciences in a report released on Tuesday, September 3rd. HC Wainwright analyst R. Burns now expects that the technology company will earn ($0.57) per share for the quarter, up from their prior forecast of ($0.62). HC Wainwright has a "Buy" rating and a $17.00 price target on the stock. The consensus estimate for Cogent Biosciences' current full-year earnings is ($2.26) per share. HC Wainwright also issued estimates for Cogent Biosciences' Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($2.37) EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.63) EPS, Q3 2025 earnings at ($0.65) EPS, Q4 2025 earnings at ($0.67) EPS and FY2025 earnings at ($2.56) EPS.
Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.03). During the same period in the prior year, the company posted ($0.59) earnings per share.
Other equities research analysts have also recently issued reports about the stock. Robert W. Baird increased their price objective on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Thursday. Wedbush reissued a "neutral" rating and issued a $11.00 price objective (up from $10.00) on shares of Cogent Biosciences in a research report on Tuesday. Needham & Company LLC restated a "buy" rating and set a $18.00 target price on shares of Cogent Biosciences in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their target price on Cogent Biosciences from $22.00 to $19.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Cogent Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $14.67.
Read Our Latest Research Report on Cogent Biosciences
Cogent Biosciences Stock Down 2.1 %
Cogent Biosciences stock traded down $0.24 during mid-day trading on Thursday, hitting $11.24. 1,154,609 shares of the stock were exchanged, compared to its average volume of 1,530,835. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -4.53 and a beta of 1.71. Cogent Biosciences has a 12 month low of $3.67 and a 12 month high of $12.83. The firm's fifty day simple moving average is $9.36 and its two-hundred day simple moving average is $8.09.
Institutional Investors Weigh In On Cogent Biosciences
A number of hedge funds have recently added to or reduced their stakes in COGT. Russell Investments Group Ltd. lifted its holdings in shares of Cogent Biosciences by 234.5% in 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. Quest Partners LLC acquired a new position in shares of Cogent Biosciences during the second quarter valued at about $89,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Cogent Biosciences during the fourth quarter worth about $70,000. SkyView Investment Advisors LLC raised its holdings in shares of Cogent Biosciences by 25.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company's stock worth $105,000 after acquiring an additional 2,500 shares during the last quarter. Finally, NEOS Investment Management LLC bought a new position in Cogent Biosciences in the 4th quarter valued at about $76,000.
About Cogent Biosciences
(
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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.
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