Cogent Biosciences (NASDAQ:COGT) Given New $50.00 Price Target at HC Wainwright

Cogent Biosciences (NASDAQ:COGT) had its price objective upped by HC Wainwright from $21.00 to $50.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cogent Biosciences in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Cogent Biosciences from $30.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Guggenheim increased their price objective on shares of Cogent Biosciences from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Raymond James Financial began coverage on shares of Cogent Biosciences in a research report on Tuesday, September 2nd. They set a “strong-buy” rating and a $30.00 target price on the stock. Finally, Leerink Partners upped their target price on Cogent Biosciences from $18.00 to $50.00 and gave the company an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.33.

Cogent Biosciences Stock Down 4.1%

COGT stock opened at $33.83 on Thursday. Cogent Biosciences has a twelve month low of $3.72 and a twelve month high of $36.29. The company has a quick ratio of 4.19, a current ratio of 6.38 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $16.09 and its 200-day moving average is $11.26. The firm has a market capitalization of $4.82 billion, a PE ratio of -20.63 and a beta of 0.41.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.04. Sell-side analysts expect that Cogent Biosciences will post -2.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Cogent Biosciences

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its position in shares of Cogent Biosciences by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 988,962 shares of the technology company’s stock valued at $5,924,000 after buying an additional 124,069 shares during the last quarter. Exome Asset Management LLC bought a new stake in Cogent Biosciences in the 1st quarter valued at about $3,724,000. Fox Run Management L.L.C. raised its stake in Cogent Biosciences by 361.3% in the 1st quarter. Fox Run Management L.L.C. now owns 46,626 shares of the technology company’s stock valued at $279,000 after acquiring an additional 36,518 shares during the period. Paradigm Biocapital Advisors LP lifted its holdings in Cogent Biosciences by 82.3% during the first quarter. Paradigm Biocapital Advisors LP now owns 8,963,655 shares of the technology company’s stock valued at $53,692,000 after purchasing an additional 4,046,243 shares during the last quarter. Finally, Knott David M Jr bought a new position in Cogent Biosciences during the first quarter worth about $1,278,000.

Cogent Biosciences Company Profile

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.