Cogent Biosciences' (COGT) "Buy" Rating Reaffirmed at HC Wainwright

Cogent Biosciences (NASDAQ:COGT - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a report released on Monday, Benzinga reports. They presently have a $17.00 price objective on the technology company's stock. HC Wainwright's price target would indicate a potential upside of 43.22% from the stock's current price.

Several other equities research analysts have also recently weighed in on COGT. Wedbush reaffirmed a "neutral" rating and set a $11.00 price objective (up previously from $10.00) on shares of Cogent Biosciences in a research report on Tuesday, September 3rd. Citigroup lifted their price objective 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. JPMorgan Chase & Co. cut their target price on Cogent Biosciences from $22.00 to $19.00 and set an "overweight" rating for the company in a research note on Wednesday, August 7th. Robert W. Baird lifted 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, September 5th. Finally, Needham & Company LLC restated a "buy" rating and set a $16.00 price objective on shares of Cogent Biosciences in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $14.67.

Cogent Biosciences Trading Up 1.3 %

NASDAQ COGT traded up $0.15 during trading on Monday, reaching $11.87. The company's stock had a trading volume of 825,159 shares, compared to its average volume of 1,408,907. The firm has a 50 day moving average price of $11.08 and a 200 day moving average price of $9.33. Cogent Biosciences has a 12 month low of $3.67 and a 12 month high of $12.61. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -4.73 and a beta of 1.72.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its quarterly earnings results 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 last year, the business earned ($0.59) earnings per share. On average, equities analysts forecast that Cogent Biosciences will post -2.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

Several hedge funds have recently modified their holdings of the company. Values First Advisors Inc. bought a new position in Cogent Biosciences in the third quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cogent Biosciences by 38.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company's stock valued at $43,000 after buying an additional 1,104 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Cogent Biosciences by 234.5% during the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company's stock worth $67,000 after buying an additional 7,020 shares during the period. nVerses Capital LLC bought a new stake in Cogent Biosciences during the 3rd quarter worth approximately $76,000. Finally, Quest Partners LLC acquired a new position in Cogent Biosciences in the 2nd quarter valued at approximately $89,000.

Cogent Biosciences Company Profile

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.