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

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

Cogent Biosciences Stock Down 7.2 %

NASDAQ:COGT opened at $9.65 on Friday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -3.89 and a beta of 1.72. Cogent Biosciences has a 52 week low of $3.67 and a 52 week high of $12.61. The firm has a 50 day moving average of $11.02 and a 200 day moving average of $9.53.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on COGT shares. JPMorgan Chase & Co. raised their price objective on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday. HC Wainwright reissued a “buy” rating and issued a $17.00 target price on shares of Cogent Biosciences in a research note on Monday, November 4th. Robert W. Baird raised their price target on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Citigroup upped 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. Finally, Needham & Company LLC cut their price target on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cogent Biosciences currently has an average rating of “Moderate Buy” and an average price target of $14.83.

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.