What is HC Wainwright’s Estimate for COGT FY2024 Earnings?

Cogent Biosciences, Inc. (NASDAQ:COGT) – Stock analysts at HC Wainwright decreased their FY2024 earnings per share estimates for Cogent Biosciences in a report released on Wednesday, December 11th. HC Wainwright analyst R. Burns now forecasts that the technology company will post earnings per share of ($2.50) for the year, down from their previous forecast of ($2.37). HC Wainwright has a “Buy” rating on the stock. The consensus estimate for Cogent Biosciences’ current full-year earnings is ($2.40) per share. HC Wainwright also issued estimates for Cogent Biosciences’ Q4 2024 earnings at ($0.64) EPS, Q1 2025 earnings at ($0.65) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.67) EPS and FY2025 earnings at ($2.65) EPS.

A number of other brokerages have also recently commented on COGT. Wedbush reiterated a “neutral” rating and issued a $11.00 price target on shares of Cogent Biosciences in a research note on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on Cogent Biosciences from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Citigroup boosted their price target on Cogent Biosciences from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Needham & Company LLC lowered shares of Cogent Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Robert W. Baird raised their target price on Cogent Biosciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Cogent Biosciences has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Cogent Biosciences Stock Performance

Shares of Cogent Biosciences stock opened at $8.34 on Friday. The company’s 50 day moving average price is $10.42 and its two-hundred day moving average price is $9.77. Cogent Biosciences has a fifty-two week low of $4.28 and a fifty-two week high of $12.61.

Cogent Biosciences (NASDAQ:COGT) last announced its quarterly 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 in the prior year, the company earned ($0.64) EPS.

Institutional Trading of Cogent Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in COGT. Values First Advisors Inc. purchased a new stake in Cogent Biosciences in the third quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cogent Biosciences by 38.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,959 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,104 shares during the last quarter. nVerses Capital LLC purchased a new position in Cogent Biosciences in the third quarter worth $76,000. Victory Capital Management Inc. bought a new position in shares of Cogent Biosciences during the 3rd quarter valued at about $113,000. Finally, Quest Partners LLC purchased a new stake in shares of Cogent Biosciences in the 2nd quarter valued at $89,000.

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.