Cogent Biosciences (NASDAQ:COGT) Releases Earnings Results, Misses Estimates By $0.07 EPS

Cogent Biosciences (NASDAQ:COGT) issued its earnings results on Tuesday. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07), Briefing.com reports. During the same period last year, the firm posted ($0.64) earnings per share.

Cogent Biosciences Stock Performance

Shares of Cogent Biosciences stock traded down $0.75 during trading on Thursday, hitting $9.65. 831,335 shares of the stock were exchanged, compared to its average volume of 1,425,572. The stock’s fifty day moving average is $11.02 and its 200 day moving average is $9.53. The stock has a market cap of $1.06 billion, a PE ratio of -3.89 and a beta of 1.72. Cogent Biosciences has a 12 month low of $3.67 and a 12 month high of $12.61.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on COGT shares. JPMorgan Chase & Co. upped their price target on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC decreased their price target on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup lifted their price objective on shares of Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. HC Wainwright reiterated a “buy” rating and issued a $17.00 price objective on shares of Cogent Biosciences in a report on Monday, November 4th. Finally, Wedbush restated a “neutral” rating and set a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.83.

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.