Analysts Set Cogent Biosciences, Inc. (NASDAQ:COGT) Target Price at $45.90

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued 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 analysts that have covered the stock in the last year is $49.40.

Several research analysts recently weighed in on COGT shares. Piper Sandler upped their price target on Cogent Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday. HC Wainwright raised their price objective on Cogent Biosciences to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a research note on Friday, May 29th. Guggenheim upped their target price on Cogent Biosciences from $45.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research report on Wednesday, July 8th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp acquired a new stake in shares of Cogent Biosciences during the 2nd quarter valued at $27,000. EverSource Wealth Advisors LLC increased its stake in shares of Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after acquiring an additional 652 shares during the last quarter. Parallel Advisors LLC purchased a new stake in shares of Cogent Biosciences during the first quarter worth $39,000. Global Retirement Partners LLC purchased a new stake in shares of Cogent Biosciences during the fourth quarter worth $37,000. Finally, Summit Securities Group LLC acquired a new stake in Cogent Biosciences during the first quarter valued at $46,000.

Cogent Biosciences Price Performance

Shares of NASDAQ:COGT opened at $37.40 on Wednesday. The company’s fifty day moving average is $38.25 and its two-hundred day moving average is $36.64. The company has a quick ratio of 13.57, a current ratio of 13.57 and a debt-to-equity ratio of 0.48. Cogent Biosciences has a 12-month low of $11.53 and a 12-month high of $43.73. The company has a market cap of $6.49 billion, a P/E ratio of -17.31 and a beta of 0.38.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Monday, August 10th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.03. Equities analysts expect that Cogent Biosciences will post -2.2 earnings per share for the current fiscal year.

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.