Cogent Biosciences (NASDAQ:COGT) Releases Earnings Results, Misses Estimates By $0.11 EPS

Cogent Biosciences (NASDAQ:COGT) released its quarterly earnings data on Tuesday. The technology company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11), Briefing.com reports.

Cogent Biosciences Price Performance

Shares of COGT opened at $7.92 on Friday. Cogent Biosciences has a one year low of $3.67 and a one year high of $13.50. The company has a 50-day simple moving average of $6.76 and a two-hundred day simple moving average of $6.63. The firm has a market capitalization of $757.25 million, a PE ratio of -3.19 and a beta of 1.57.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup boosted their price objective on Cogent Biosciences from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. raised their price target on shares of Cogent Biosciences from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Wedbush upped their price objective on shares of Cogent Biosciences from $5.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Robert W. Baird reissued a “neutral” rating and issued a $8.00 target price (down from $14.00) on shares of Cogent Biosciences in a research note on Monday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Cogent Biosciences in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.67.

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.