Cogent Biosciences (NASDAQ:COGT) Announces Quarterly Earnings Results

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

Cogent Biosciences Stock Down 0.2 %

COGT opened at $10.38 on Wednesday. The stock’s 50 day moving average price is $11.08 and its two-hundred day moving average price is $9.53. The firm has a market capitalization of $1.14 billion, a P/E ratio of -4.19 and a beta of 1.72. Cogent Biosciences has a 12-month low of $3.67 and a 12-month high of $12.61.

Wall Street Analysts Forecast Growth

Several analysts have commented on COGT shares. HC Wainwright reissued a “buy” rating and issued a $17.00 target price on shares of Cogent Biosciences in a research report on Monday, November 4th. JPMorgan Chase & Co. cut their target price on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird upped their price target on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Needham & Company LLC cut their price objective on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.