Cogent Biosciences (NASDAQ:COGT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cogent Biosciences (NASDAQ:COGT) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $19.00 to $21.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 135.96% from the company’s current price.

Several other research analysts also recently commented on the company. Robert W. Baird boosted their target price on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Needham & Company LLC dropped their price objective on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup boosted their target price on shares of Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Wedbush reiterated a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $17.00 price objective on shares of Cogent Biosciences in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Stock Down 7.8 %

Cogent Biosciences stock opened at $8.90 on Thursday. The company’s 50-day moving average price is $10.99 and its two-hundred day moving average price is $9.55. The stock has a market cap of $974.11 million, a P/E ratio of -3.59 and a beta of 1.72. Cogent Biosciences has a twelve month low of $3.67 and a twelve month high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). During the same quarter last year, the company earned ($0.64) EPS. Equities analysts anticipate that Cogent Biosciences will post -2.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cogent Biosciences

A number of hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. raised its position in Cogent Biosciences by 124.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 14,986,398 shares of the technology company’s stock worth $126,335,000 after purchasing an additional 8,310,150 shares during the last quarter. Kynam Capital Management LP raised its position in shares of Cogent Biosciences by 45.2% during the first quarter. Kynam Capital Management LP now owns 8,500,000 shares of the technology company’s stock worth $57,120,000 after acquiring an additional 2,645,234 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its stake in shares of Cogent Biosciences by 144.0% in the second quarter. Deerfield Management Company L.P. Series C now owns 3,744,263 shares of the technology company’s stock worth $31,564,000 after acquiring an additional 2,209,918 shares during the period. Janus Henderson Group PLC boosted its holdings in Cogent Biosciences by 12,785.8% in the first quarter. Janus Henderson Group PLC now owns 2,099,357 shares of the technology company’s stock valued at $14,097,000 after acquiring an additional 2,083,065 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Cogent Biosciences by 27.1% during the 1st quarter. Vanguard Group Inc. now owns 5,765,705 shares of the technology company’s stock valued at $38,746,000 after purchasing an additional 1,231,050 shares during the period.

About Cogent Biosciences

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.