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

Cogent Biosciences (NASDAQ:COGT) posted its quarterly 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 company posted ($0.64) EPS.

Cogent Biosciences Price Performance

COGT stock traded down $0.44 during mid-day trading on Thursday, reaching $9.96. 147,424 shares of the company traded hands, compared to its average volume of 1,422,477. The company has a fifty day moving average price of $11.06 and a 200-day moving average price of $9.53. Cogent Biosciences has a 52-week low of $3.67 and a 52-week high of $12.61. The company has a market capitalization of $1.09 billion, a P/E ratio of -4.19 and a beta of 1.72.

Wall Street Analysts Forecast Growth

COGT has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Cogent Biosciences in a research report on Monday, November 4th. Needham & Company LLC reduced their price objective on Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup boosted their target price on Cogent Biosciences from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Robert W. Baird upped their price target on Cogent Biosciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Finally, Wedbush reissued a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a report on Tuesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cogent Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

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.