Cogent Biosciences (NASDAQ:COGT) Posts Earnings Results, Misses Expectations By $0.07 EPS

Cogent Biosciences (NASDAQ:COGT) posted its quarterly earnings results on Tuesday. The technology company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07), Briefing.com reports. During the same period last year, the business posted ($0.64) earnings per share.

Cogent Biosciences Trading Up 4.4 %

COGT traded up $0.46 during midday trading on Wednesday, reaching $10.84. The company’s stock had a trading volume of 72,197 shares, compared to its average volume of 1,416,753. Cogent Biosciences has a twelve month low of $3.67 and a twelve month high of $12.61. The stock has a market cap of $1.19 billion, a P/E ratio of -4.19 and a beta of 1.72. The company has a fifty day simple moving average of $11.08 and a 200 day simple moving average of $9.53.

Wall Street Analysts Forecast Growth

COGT has been the subject of a number of research reports. Citigroup lifted their price objective on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Needham & Company LLC cut their price objective on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Robert W. Baird boosted their price target on shares of Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Finally, Wedbush restated a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

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.