Brokers Offer Predictions for COGT FY2028 Earnings

Cogent Biosciences, Inc. (NASDAQ:COGT) – Investment analysts at Wedbush issued their FY2028 earnings estimates for Cogent Biosciences in a research note issued to investors on Tuesday, May 6th. Wedbush analyst D. Nierengarten forecasts that the technology company will earn ($0.13) per share for the year. Wedbush has a “Neutral” rating and a $11.00 price objective on the stock. The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.42) per share.

COGT has been the subject of several other research reports. Piper Sandler upgraded shares of Cogent Biosciences to a “strong-buy” rating in a research report on Friday, March 7th. Robert W. Baird reduced their target price on shares of Cogent Biosciences from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday. Scotiabank began coverage on Cogent Biosciences in a report on Friday, March 7th. They set a “sector outperform” rating and a $17.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. Finally, HC Wainwright lowered their target price on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.29.

Cogent Biosciences Trading Down 2.8 %

COGT stock opened at $4.84 on Friday. The company has a market capitalization of $551.06 million, a P/E ratio of -1.95 and a beta of 1.91. The business has a 50 day simple moving average of $5.65 and a 200-day simple moving average of $7.73. Cogent Biosciences has a twelve month low of $3.72 and a twelve month high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, May 6th. The technology company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.04.

Hedge Funds Weigh In On Cogent Biosciences

A number of large investors have recently modified their holdings of COGT. FMR LLC grew its holdings in Cogent Biosciences by 99.2% during the fourth quarter. FMR LLC now owns 16,569,256 shares of the technology company’s stock worth $129,240,000 after acquiring an additional 8,249,845 shares during the period. Octagon Capital Advisors LP grew its stake in shares of Cogent Biosciences by 111.7% during the 4th quarter. Octagon Capital Advisors LP now owns 2,763,000 shares of the technology company’s stock worth $21,551,000 after purchasing an additional 1,458,000 shares during the period. SG Americas Securities LLC increased its holdings in shares of Cogent Biosciences by 2,865.3% in the 4th quarter. SG Americas Securities LLC now owns 964,712 shares of the technology company’s stock valued at $7,525,000 after purchasing an additional 932,179 shares in the last quarter. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of Cogent Biosciences in the fourth quarter valued at about $4,279,000. Finally, Vanguard Group Inc. boosted its holdings in Cogent Biosciences by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 6,133,380 shares of the technology company’s stock worth $47,840,000 after buying an additional 418,975 shares in the last quarter.

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.