Cogent Biosciences (NASDAQ:COGT) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Cogent Biosciences (NASDAQ:COGT) in a report released on Monday morning,Benzinga reports. They currently have a $15.00 price objective on the technology company’s stock.

Several other research analysts have also recently issued reports on the stock. Wedbush reiterated a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a report on Tuesday, November 12th. 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 report on Thursday, September 5th. HC Wainwright restated a “buy” rating and issued a $17.00 price objective on shares of Cogent Biosciences in a report on Monday, November 4th. Citigroup lifted their target price on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.83.

Cogent Biosciences Price Performance

Shares of Cogent Biosciences stock opened at $9.67 on Monday. 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 $1.07 billion, a P/E ratio of -3.90 and a beta of 1.71. The business’s fifty day moving average price is $10.51 and its two-hundred day moving average price is $9.77.

Cogent Biosciences (NASDAQ:COGT) 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 period last year, the business earned ($0.64) EPS. On average, research analysts expect that Cogent Biosciences will post -2.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake 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 worth $43,000 after purchasing an additional 1,104 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Cogent Biosciences by 7.5% in the third quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock worth $337,000 after acquiring an additional 2,176 shares in the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of Cogent Biosciences by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock valued at $105,000 after acquiring an additional 2,500 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Cogent Biosciences in the 3rd quarter valued at approximately $32,000. Finally, Creative Planning boosted its stake in Cogent Biosciences by 29.6% in the 3rd quarter. Creative Planning now owns 14,324 shares of the technology company’s stock worth $155,000 after purchasing an additional 3,272 shares during the period.

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.