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

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

Cogent Biosciences Stock Performance

NASDAQ COGT opened at $7.76 on Wednesday. The stock has a market capitalization of $741.93 million, a price-to-earnings ratio of -3.23 and a beta of 1.57. Cogent Biosciences has a 52 week low of $3.67 and a 52 week high of $13.50. The stock’s 50 day moving average price is $6.74 and its two-hundred day moving average price is $6.61.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wedbush boosted their price objective on Cogent Biosciences from $5.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Cogent Biosciences in a report on Wednesday. Citigroup raised their target price on Cogent Biosciences from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, February 26th. JPMorgan Chase & Co. upped their price target on Cogent Biosciences from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Cogent Biosciences in a research note on Thursday, February 22nd. 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 MarketBeat, the company presently has a consensus 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.