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

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

Cogent Biosciences Stock Down 4.3 %

Shares of NASDAQ:COGT traded down $0.32 during midday trading on Tuesday, hitting $7.14. 339,273 shares of the stock traded hands, compared to its average volume of 1,377,320. The stock has a market capitalization of $788.48 million, a PE ratio of -2.87 and a beta of 1.77. Cogent Biosciences has a one year low of $5.73 and a one year high of $12.61. The business’s 50 day moving average is $8.23 and its two-hundred day moving average is $9.59.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wedbush reiterated a “neutral” rating and set a $11.00 price target on shares of Cogent Biosciences in a research report on Monday, January 13th. HC Wainwright decreased their target price on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC cut Cogent Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Cogent Biosciences presently has a consensus rating of “Moderate Buy” and a consensus 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.