Cogent Biosciences (NASDAQ:COGT) Releases Earnings Results, Misses Estimates By $0.03 EPS

Cogent Biosciences (NASDAQ:COGT) posted its quarterly earnings data on Thursday. The technology company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03), FiscalAI reports.

Cogent Biosciences Stock Performance

NASDAQ:COGT traded up $2.07 during mid-day trading on Friday, hitting $31.65. The stock had a trading volume of 1,481,732 shares, compared to its average volume of 2,224,450. Cogent Biosciences has a twelve month low of $13.93 and a twelve month high of $43.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 13.57 and a current ratio of 13.57. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of -14.07 and a beta of 0.36. The company’s 50 day simple moving average is $31.83 and its 200 day simple moving average is $35.52.

Analysts Set New Price Targets

A number of research firms have weighed in on COGT. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Cogent Biosciences in a research note on Tuesday, September 15th. Piper Sandler upped their price objective on Cogent Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. Guggenheim raised their target price on shares of Cogent Biosciences from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cogent Biosciences in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

Cogent Biosciences Company Profile

Cogent Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for genetically defined diseases. The company uses molecular biology and drug-discovery technologies to design therapies intended to target disease-driving mutations while limiting activity in healthy tissues.

Cogent’s lead product candidate is bezuclastinib, also known as CGT9486, an investigational, highly selective inhibitor of the KIT D816V mutation. The company is developing bezuclastinib for systemic mastocytosis, a rare disorder involving the abnormal accumulation of mast cells, including both indolent and advanced forms of the disease.

Cogent conducts its research and clinical-development activities primarily in the United States and works with clinical centers and research partners in support of its development programs.