FY2027 Earnings Estimate for Cogent Biosciences, Inc. Issued By Wedbush (NASDAQ:COGT)

Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) - Investment analysts at Wedbush increased their FY2027 earnings per share estimates for Cogent Biosciences in a report released on Tuesday, September 3rd. Wedbush analyst D. Nierengarten now expects that the technology company will earn ($1.10) per share for the year, up from their previous estimate of ($1.20). Wedbush currently has a "Neutral" rating and a $11.00 target price on the stock. The consensus estimate for Cogent Biosciences' current full-year earnings is ($2.25) per share.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their price target on Cogent Biosciences from $22.00 to $19.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. HC Wainwright cut their target price on Cogent Biosciences from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 target price on shares of Cogent Biosciences in a report on Wednesday, August 7th. Finally, Robert W. Baird boosted their price target on Cogent Biosciences from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $14.67.

Cogent Biosciences Price Performance

Shares of COGT traded down $0.77 during trading hours on Friday, hitting $10.47. 979,164 shares of the stock were exchanged, compared to its average volume of 1,527,646. Cogent Biosciences has a fifty-two week low of $3.67 and a fifty-two week high of $12.65. The business has a 50-day moving average of $9.40 and a 200-day moving average of $8.10. The firm has a market capitalization of $1.15 billion, a P/E ratio of -4.22 and a beta of 1.70.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.03). During the same period in the previous year, the company posted ($0.59) EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cogent Biosciences by 67.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,934 shares of the technology company's stock valued at $111,000 after buying an additional 7,606 shares in the last quarter. Fisher Asset Management LLC lifted its position in Cogent Biosciences by 48.1% in the 4th quarter. Fisher Asset Management LLC now owns 101,531 shares of the technology company's stock valued at $597,000 after acquiring an additional 32,962 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in Cogent Biosciences during the 4th quarter valued at about $91,000. Jump Financial LLC bought a new stake in Cogent Biosciences during the 4th quarter worth approximately $147,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Cogent Biosciences in the fourth quarter worth approximately $70,000.

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.