FY2024 Earnings Forecast for COGT Issued By Leerink Partnrs

Cogent Biosciences, Inc. (NASDAQ:COGT) – Stock analysts at Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for Cogent Biosciences in a research report issued on Wednesday, November 13th. Leerink Partnrs analyst A. Berens now expects that the technology company will post earnings of ($2.53) per share for the year, up from their previous estimate of ($2.56). The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.40) per share. Leerink Partnrs also issued estimates for Cogent Biosciences’ Q4 2024 earnings at ($0.67) EPS, FY2025 earnings at ($2.41) EPS and FY2026 earnings at ($1.33) EPS.

Several other research analysts also recently commented on the company. Robert W. Baird lifted their price objective on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price target on shares of Cogent Biosciences in a research note on Monday, November 4th. Needham & Company LLC lowered their price objective on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Wedbush restated a “neutral” rating and issued a $11.00 target price on shares of Cogent Biosciences in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cogent Biosciences currently has an average rating of “Moderate Buy” and an average target price of $14.83.

Cogent Biosciences Price Performance

Shares of COGT opened at $8.99 on Monday. Cogent Biosciences has a 1 year low of $3.67 and a 1 year high of $12.61. The stock has a 50 day simple moving average of $10.95 and a two-hundred day simple moving average of $9.60. The firm has a market cap of $993.04 million, a P/E ratio of -3.62 and a beta of 1.72.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same quarter last year, the company posted ($0.64) EPS.

Institutional Investors Weigh In On Cogent Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of COGT. Values First Advisors Inc. bought a new position in shares of Cogent Biosciences during the third quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. increased its position in Cogent Biosciences by 38.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock valued at $43,000 after purchasing an additional 1,104 shares during the period. Russell Investments Group Ltd. raised its holdings in Cogent Biosciences by 234.5% in the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock worth $67,000 after purchasing an additional 7,020 shares in the last quarter. nVerses Capital LLC bought a new position in Cogent Biosciences in the 3rd quarter worth $76,000. Finally, Quest Partners LLC purchased a new stake in shares of Cogent Biosciences in the 2nd quarter worth about $89,000.

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.