Cogent Biosciences (NASDAQ:COGT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cogent Biosciences (NASDAQ:COGT) had its price target hoisted by JPMorgan Chase & Co. from $19.00 to $21.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

COGT has been the subject of a number of other reports. Needham & Company LLC dropped their price target on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $17.00 target price on shares of Cogent Biosciences in a research report on Monday, November 4th. Citigroup upped their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Robert W. Baird raised their price objective on shares of Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Wedbush restated a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Cogent Biosciences Stock Down 7.8 %

Cogent Biosciences stock opened at $8.90 on Thursday. The stock has a market cap of $974.11 million, a PE ratio of -3.59 and a beta of 1.72. Cogent Biosciences has a 12-month low of $3.67 and a 12-month high of $12.61. The business’s 50-day moving average price is $10.99 and its two-hundred day moving average price is $9.57.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter in the prior year, the business posted ($0.64) EPS. As a group, analysts expect that Cogent Biosciences will post -2.29 earnings per share for the current year.

Institutional Trading of Cogent Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its stake in shares of Cogent Biosciences by 124.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock valued at $126,335,000 after purchasing an additional 8,310,150 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Cogent Biosciences during the second quarter valued at $1,077,000. Sofinnova Investments Inc. grew its holdings in Cogent Biosciences by 15.5% during the 2nd quarter. Sofinnova Investments Inc. now owns 2,773,286 shares of the technology company’s stock worth $23,379,000 after acquiring an additional 372,515 shares during the period. Janus Henderson Group PLC raised its position in shares of Cogent Biosciences by 12,785.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,099,357 shares of the technology company’s stock worth $14,097,000 after acquiring an additional 2,083,065 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its stake in shares of Cogent Biosciences by 144.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock valued at $31,564,000 after purchasing an additional 2,209,918 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.