What is Lifesci Capital’s Forecast for COGT FY2024 Earnings?

Cogent Biosciences, Inc. (NASDAQ:COGT) – Analysts at Lifesci Capital lowered their FY2024 EPS estimates for shares of Cogent Biosciences in a research note issued on Wednesday, November 13th. Lifesci Capital analyst S. Slutsky now expects that the technology company will post earnings per share of ($2.29) for the year, down from their previous estimate of ($2.26). The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.29) per share. Lifesci Capital also issued estimates for Cogent Biosciences’ Q4 2024 earnings at ($0.61) EPS.

A number of other brokerages also recently weighed in on COGT. Robert W. Baird lifted their target price on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Wedbush reiterated a “neutral” rating and issued a $11.00 price objective on shares of Cogent Biosciences in a research note on Tuesday. Needham & Company LLC cut their target price on shares of Cogent Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. Citigroup lifted their price target 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cogent Biosciences from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Cogent Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Cogent Biosciences Trading Down 7.2 %

COGT stock opened at $9.65 on Friday. Cogent Biosciences has a 1-year low of $3.67 and a 1-year high of $12.61. The stock has a 50-day moving average price of $11.02 and a 200-day moving average price of $9.53. The firm has a market cap of $1.06 billion, a PE ratio of -3.89 and a beta of 1.72.

Cogent Biosciences (NASDAQ:COGT) last released its earnings results on Tuesday, November 12th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). During the same quarter last year, the business posted ($0.64) EPS.

Institutional Investors Weigh In On Cogent Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new position in shares of Cogent Biosciences in the 3rd quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Cogent Biosciences by 38.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after acquiring an additional 1,104 shares during the period. nVerses Capital LLC bought a new position in Cogent Biosciences in the 3rd quarter valued at $76,000. Russell Investments Group Ltd. raised its stake in shares of Cogent Biosciences by 234.5% during the 1st quarter. Russell Investments Group Ltd. now owns 10,014 shares of the technology company’s stock worth $67,000 after purchasing an additional 7,020 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in shares of Cogent Biosciences in the 3rd quarter worth about $113,000.

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.