Cogent Biosciences, Inc. (NASDAQ:COGT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $45.90.

A number of research firms have recently issued reports on COGT. Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Wednesday, July 8th. HC Wainwright upped their price target on shares of Cogent Biosciences to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of Cogent Biosciences in a report on Friday, May 29th.

Hedge Funds Weigh In On Cogent Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Cogent Biosciences by 1,164.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after purchasing an additional 652 shares during the period. Osaic Holdings Inc. boosted its stake in Cogent Biosciences by 41.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,333 shares during the period. Strs Ohio acquired a new position in Cogent Biosciences in the 1st quarter valued at $36,000. Global Retirement Partners LLC acquired a new position in Cogent Biosciences in the 4th quarter valued at $37,000. Finally, Parallel Advisors LLC acquired a new position in Cogent Biosciences in the 1st quarter valued at $39,000.

Cogent Biosciences Stock Up 3.0%

COGT opened at $39.08 on Friday. Cogent Biosciences has a 1-year low of $10.38 and a 1-year high of $43.73. The stock’s fifty day simple moving average is $35.30 and its 200 day simple moving average is $36.22. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. The stock has a market cap of $6.68 billion, a PE ratio of -18.01 and a beta of 0.34.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.53). As a group, research analysts expect that Cogent Biosciences will post -2.26 earnings per share for the current year.

About Cogent Biosciences

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.