Cogent Biosciences, Inc. (NASDAQ:COGT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $43.7273.

Several research firms have recently weighed in on COGT. Jefferies Financial Group began coverage on Cogent Biosciences in a research note on Monday, March 16th. They set a “buy” rating and a $55.00 price objective for the company. Piper Sandler raised their price objective on Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Wall Street Zen lowered Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Cogent Biosciences in a research report on Tuesday, March 17th. Finally, HC Wainwright lifted their price target on Cogent Biosciences to $55.00 and gave the company a “buy” rating in a report on Wednesday.

Cogent Biosciences Stock Performance

COGT opened at $34.74 on Monday. The firm has a market cap of $5.94 billion, a PE ratio of -16.01 and a beta of 0.37. The company has a quick ratio of 14.23, a current ratio of 15.14 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $36.35 and a 200-day simple moving average of $34.81. Cogent Biosciences has a fifty-two week low of $4.55 and a fifty-two week high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.53) earnings per share for the quarter, hitting the consensus estimate of ($0.53). As a group, equities analysts predict that Cogent Biosciences will post -2.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Cogent Biosciences by 48.4% during the fourth quarter. Vanguard Group Inc. now owns 11,514,326 shares of the technology company’s stock valued at $408,989,000 after buying an additional 3,756,664 shares during the period. Deerfield Management Company L.P. raised its position in Cogent Biosciences by 242.9% during the third quarter. Deerfield Management Company L.P. now owns 9,053,118 shares of the technology company’s stock valued at $130,003,000 after buying an additional 6,412,903 shares during the period. Fairmount Funds Management LLC raised its position in Cogent Biosciences by 44.6% during the third quarter. Fairmount Funds Management LLC now owns 9,003,418 shares of the technology company’s stock valued at $129,289,000 after buying an additional 2,777,777 shares during the period. RTW Investments LP raised its position in Cogent Biosciences by 119.0% during the fourth quarter. RTW Investments LP now owns 7,592,241 shares of the technology company’s stock valued at $269,676,000 after buying an additional 4,124,755 shares during the period. Finally, Commodore Capital LP raised its position in Cogent Biosciences by 213.7% during the third quarter. Commodore Capital LP now owns 7,250,000 shares of the technology company’s stock valued at $104,110,000 after buying an additional 4,938,836 shares during the period.

Cogent Biosciences Company Profile

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.