Cogent Biosciences (NASDAQ:COGT) Price Target Raised to $67.00

Cogent Biosciences (NASDAQ:COGT) had its target price raised by JPMorgan Chase & Co. to $67.00 in a report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

COGT has been the subject of several other reports. Robert W. Baird raised their target price on Cogent Biosciences from $14.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cogent Biosciences in a report on Monday, December 15th. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a report on Monday, December 8th. Raymond James Financial initiated coverage on Cogent Biosciences in a research report on Tuesday, September 2nd. They set a “strong-buy” rating and a $30.00 target price on the stock. Finally, Stifel Nicolaus raised shares of Cogent Biosciences from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.82.

Cogent Biosciences Stock Up 4.4%

Shares of NASDAQ:COGT opened at $39.55 on Friday. Cogent Biosciences has a 1 year low of $3.72 and a 1 year high of $43.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.38 and a quick ratio of 6.38. The business’s 50-day moving average is $28.94 and its 200-day moving average is $17.45. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of -24.12 and a beta of 0.50.

Cogent Biosciences (NASDAQ:COGT) last issued its earnings results on Monday, November 3rd. The technology company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.04. Equities research analysts predict that Cogent Biosciences will post -2.42 earnings per share for the current year.

Institutional Investors Weigh In On Cogent Biosciences

Several institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its stake in Cogent Biosciences by 41.4% during the 2nd quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,333 shares in the last quarter. Strs Ohio bought a new stake in shares of Cogent Biosciences in the 1st quarter worth $36,000. Ameritas Investment Partners Inc. raised its holdings in shares of Cogent Biosciences by 16.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,543 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cogent Biosciences by 22.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,401 shares of the technology company’s stock valued at $78,000 after purchasing an additional 1,003 shares in the last quarter. Finally, CWM LLC boosted its holdings in Cogent Biosciences by 25.3% during the third quarter. CWM LLC now owns 5,582 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,126 shares during the last quarter.

Cogent Biosciences Company Profile

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.