Cogent Biosciences (NASDAQ:COGT) Announces Quarterly Earnings Results, Misses Estimates By $0.07 EPS

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

Cogent Biosciences Price Performance

Shares of COGT opened at $10.40 on Thursday. The stock has a 50-day moving average of $11.06 and a 200-day moving average of $9.53. The company has a market cap of $1.14 billion, a PE ratio of -4.19 and a beta of 1.72. Cogent Biosciences has a one year low of $3.67 and a one year high of $12.61.

Analysts Set New Price Targets

Several brokerages recently issued reports on COGT. Citigroup raised their target price on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lowered their price objective on Cogent Biosciences from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Wedbush reissued a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research report on Tuesday. 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. Finally, HC Wainwright reissued a “buy” rating and issued a $17.00 price objective on shares of Cogent Biosciences in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.50.

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.