Cogent Biosciences (COGT) Expected to Announce Earnings Soon

Cogent Biosciences (NASDAQ:COGT) is set to reveal its earnings data before the market opens on Monday, February 24th. Analysts forecast that the company will report a loss of ($0.59) per share for the upcoming quarter.

Stock Performance of Cogent Biosciences

On Friday, COGT shares began trading at $8.00, reflecting a decline of 1.1%. The company has a 50-day moving average stock price of $8.25 and a longer-term 200-day moving average price of $9.59. Over the past year, Cogent Biosciences reached a low of $5.73 and a high of $12.61. Currently, the company's market capitalization stands at $883.68 million, with a price-to-earnings ratio of -3.23 and a beta of 1.77.

Brokerage Analysts Update Price Targets

In recent weeks, several brokerage firms have updated their price targets for Cogent Biosciences. For instance, JPMorgan Chase & Co. increased their target price from $19.00 to $21.00 while assigning an “overweight” rating. Conversely, HC Wainwright reduced their target from $17.00 to $14.00, maintaining a “buy” rating. Meanwhile, Needham & Company LLC changed their position from a “buy” to a “hold” rating. Lastly, Wedbush reiterated a “neutral” rating alongside a target price of $11.00. Overall, three analysts have rated COGT as a hold, while four analysts suggest a buy. Data from MarketBeat reveals a consensus rating of “Moderate Buy” with an average price target of $14.33.

Overview of Cogent Biosciences

Cogent Biosciences, Inc. is a biotechnology firm dedicated to developing precision therapies aimed at genetically defined diseases. The company's leading product candidate, bezuclastinib (CGT9486), is a selective tyrosine kinase inhibitor intended to address mutations within the KIT receptor tyrosine kinase, particularly the KIT D816V mutation linked to systemic mastocytosis, as well as additional mutations found in patients with advanced gastrointestinal stromal tumors.

Earnings, Stocks, Analysis