Cogent Biosciences, Inc. (NASDAQ:COGT) Expected to Earn FY2027 Earnings of ($1.10) Per Share

Cogent Biosciences, Inc. (NASDAQ:COGT) – Stock analysts at Wedbush boosted their FY2027 EPS estimates for shares of Cogent Biosciences in a note issued to investors on Tuesday, September 3rd. Wedbush analyst D. Nierengarten now anticipates that the technology company will post earnings per share of ($1.10) for the year, up from their prior 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 ($2.26) per share.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same period in the prior year, the business earned ($0.59) earnings per share.

Several other brokerages also recently commented on COGT. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Cogent Biosciences in a report on Wednesday, August 7th. Robert W. Baird raised their target price on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. cut their target price on shares of Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, HC Wainwright decreased their price target on shares of Cogent Biosciences from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. 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.com, Cogent Biosciences has an average rating of “Moderate Buy” and an average target price of $14.67.

Cogent Biosciences Stock Performance

Shares of COGT stock opened at $11.24 on Friday. The stock’s 50 day simple moving average is $9.36 and its 200 day simple moving average is $8.09. Cogent Biosciences has a twelve month low of $3.67 and a twelve month high of $12.83. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -4.53 and a beta of 1.71.

Institutional Trading of Cogent Biosciences

Hedge funds have recently bought and sold shares of the stock. 49 Wealth Management LLC raised its position in shares of Cogent Biosciences by 20.5% during the first quarter. 49 Wealth Management LLC now owns 13,137 shares of the technology company’s stock valued at $91,000 after buying an additional 2,236 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in Cogent Biosciences by 25.0% in the 2nd 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 in the last quarter. ProShare Advisors LLC lifted its position in shares of Cogent Biosciences by 15.3% in the 1st quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock worth $149,000 after acquiring an additional 2,953 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cogent Biosciences by 8.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,379 shares of the technology company’s stock worth $352,000 after purchasing an additional 3,912 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Cogent Biosciences by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,211 shares of the technology company’s stock worth $237,000 after purchasing an additional 4,030 shares in the last quarter.

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.