Cogent Biosciences Secures Moderate Buy Rating with $39.55 Price Target

Shares of Cogent Biosciences, Inc. (NASDAQ:COGT) have received an average recommendation of “Moderate Buy” from fifteen brokerages monitoring the firm, as reported by Marketbeat. Among these analysts, one has issued a sell recommendation, two have assigned a hold rating, nine have given a buy rating, and three have labeled the stock with a strong buy rating. The average twelve-month price target stands at approximately $39.55.

In recent reports, several brokerages have updated their recommendations on Cogent Biosciences. On January 7, UBS Group upgraded the company to a “strong buy” rating. A few weeks later, on January 21, Wedbush reaffirmed an “outperform” rating and set a price target of $55.00. Additionally, Stifel Nicolaus upgraded the stock from a “hold” to a “buy” with a target price of $40.00, while Needham & Company LLC continued to hold its rating as of December 8. On the same date, Jefferies Financial Group maintained its buy rating with an objective of $48.00.

Institutional investors have also shown increased interest in Cogent Biosciences. Mirae Asset Global Investments Co. Ltd. raised its stake in the company by 38.1% during the fourth quarter, holding now 7,459 shares valued at approximately $265,000. CWM LLC increased its position by 4.9%, owning 5,858 shares worth around $208,000. Furthermore, Tema Etfs LLC reported an 18.2% growth in its holdings, now owning 106,329 shares valued at $3.77 million. Other investors, such as Nisa Investment Advisors LLC and Allspring Global Investments Holdings LLC, have also adjusted their stakes.

As of the latest trading session, shares of Cogent Biosciences opened at $37.86, reflecting a 3.2% increase. The company has a quick ratio of 6.38, a current ratio of 6.38, and a debt-to-equity ratio of 0.23. Its 50-day and 200-day simple moving averages are $38.13 and $22.91, respectively. The stock has seen a 52-week low of $3.72 and a high of $43.73. Currently, Cogent Biosciences holds a market capitalization of approximately $5.39 billion and a price-to-earnings ratio of -23.09.

On November 3, Cogent Biosciences disclosed its quarterly earnings results, reporting a loss of ($0.50) per share. This figure exceeded analysts’ expectations of ($0.54) by $0.04. Analysts project that the company will record an earnings per share of ($2.42) for the current year.

Cogent Biosciences is a clinical-stage biopharmaceutical firm focused on developing small-molecule therapies that modulate the tumor microenvironment. The company primarily targets the colony-stimulating factor 1 receptor (CSF1R), a significant regulator of tumor-associated macrophages that can foster tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent aims to restore immune surveillance and enhance the effectiveness of existing cancer treatments. Its lead asset is an orally bioavailable CSF1R inhibitor currently in early-stage clinical trials for various solid tumors.