Wedbush Research Analysts Lower Earnings Estimates for COGT

Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) - Investment analysts at Wedbush lowered their FY2024 earnings estimates for shares of Cogent Biosciences in a research note issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now anticipates that the technology company will post earnings of ($2.40) per share for the year, down from their prior estimate of ($2.09). 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 ($2.29) per share. Wedbush also issued estimates for Cogent Biosciences' Q4 2024 earnings at ($0.55) EPS, Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.42) EPS, FY2025 earnings at ($1.76) EPS, FY2026 earnings at ($1.46) EPS and FY2027 earnings at ($1.17) EPS.

Several other equities analysts also recently commented on COGT. HC Wainwright reaffirmed a "buy" rating and set a $17.00 price objective on shares of Cogent Biosciences in a research note on Monday, November 4th. Needham & Company LLC reduced their price target on shares of Cogent Biosciences from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday. Citigroup boosted their price target on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird boosted their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a "neutral" rating in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $14.83.

Cogent Biosciences Price Performance

Cogent Biosciences stock traded down $0.75 during mid-day trading on Friday, hitting $8.90. The company's stock had a trading volume of 1,318,949 shares, compared to its average volume of 1,425,093. The stock has a market cap of $974.11 million, a price-to-earnings ratio of -3.59 and a beta of 1.72. The business has a 50 day moving average price of $10.99 and a 200-day moving average price of $9.55. Cogent Biosciences has a 12 month low of $3.67 and a 12 month high of $12.61.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last posted its quarterly earnings results 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 company earned ($0.64) EPS.

Institutional Investors Weigh In On Cogent Biosciences

Institutional investors have recently made changes to their positions in the company. Values First Advisors Inc. purchased a new stake in shares of Cogent Biosciences during the third quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cogent Biosciences by 38.7% during 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 buying an additional 1,104 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Cogent Biosciences by 234.5% during the first quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company's stock valued at $67,000 after buying an additional 7,020 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Cogent Biosciences during the third quarter valued at approximately $76,000. Finally, Quest Partners LLC purchased a new stake in shares of Cogent Biosciences during the second quarter valued at approximately $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.