Cogent Biosciences (NASDAQ:COGT) Price Target Raised to $21.00

Cogent Biosciences (NASDAQ:COGT) had its price target upped by JPMorgan Chase & Co. from $19.00 to $21.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

COGT has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Cogent Biosciences in a research note on Monday, November 4th. Robert W. Baird boosted 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. Wedbush reiterated a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, November 12th. Needham & Company LLC dropped their price target on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Citigroup upped their price objective on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Cogent Biosciences Stock Performance

Cogent Biosciences stock opened at $8.90 on Thursday. The stock has a 50-day simple moving average of $10.99 and a 200 day simple moving average of $9.57. The stock has a market capitalization of $974.11 million, a P/E ratio of -3.59 and a beta of 1.72. Cogent Biosciences has a 52 week low of $3.67 and a 52 week high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last posted its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same period last year, the business earned ($0.64) earnings per share. Research analysts forecast that Cogent Biosciences will post -2.29 earnings per share for the current year.

Institutional Investors Weigh In On Cogent Biosciences

Several institutional investors have recently made changes to their positions in COGT. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cogent Biosciences by 38.7% in 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 acquiring an additional 1,104 shares in the last quarter. Verition Fund Management LLC raised its stake in Cogent Biosciences by 7.5% in the third quarter. Verition Fund Management LLC now owns 31,228 shares of the technology company’s stock valued at $337,000 after purchasing an additional 2,176 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in Cogent Biosciences by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the technology company’s stock worth $105,000 after purchasing an additional 2,500 shares during the period. ProShare Advisors LLC grew its stake in Cogent Biosciences by 15.3% during the first quarter. ProShare Advisors LLC now owns 22,206 shares of the technology company’s stock worth $149,000 after buying an additional 2,953 shares in the last quarter. Finally, Values First Advisors Inc. bought a new position in Cogent Biosciences in the 3rd quarter valued at about $32,000.

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.