Cogent Biosciences (NASDAQ:COGT) Releases Quarterly Earnings Results, Beats Expectations By $0.50 EPS

Cogent Biosciences (NASDAQ:COGT) issued its quarterly earnings results on Monday. The technology company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.50, Zacks reports.

Cogent Biosciences Trading Down 4.3 %

Shares of NASDAQ:COGT traded down $0.32 during trading on Tuesday, reaching $7.14. The company had a trading volume of 339,273 shares, compared to its average volume of 1,377,320. The company has a fifty day moving average of $8.23 and a two-hundred day moving average of $9.59. The stock has a market capitalization of $788.48 million, a P/E ratio of -2.87 and a beta of 1.77. Cogent Biosciences has a 12 month low of $5.73 and a 12 month high of $12.61.

Analysts Set New Price Targets

COGT has been the subject of a number of research reports. Wedbush reiterated a “neutral” rating and set a $11.00 target price on shares of Cogent Biosciences in a research report on Monday, January 13th. Needham & Company LLC lowered shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. HC Wainwright dropped their target price on Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. increased their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.33.

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.