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On Wednesday, H.C. Wainwright adjusted its price target for Cogent (NASDAQ: COGT) shares, reducing it to $12 from the previous $14, while maintaining a Buy rating on the stock. Currently trading at $5.31, the stock has shown resilience with an 8.8% gain over the past week. According to InvestingPro analysis, Cogent’s shares are currently trading near their Fair Value, with analyst targets ranging from $7 to $24. This adjustment follows the recent financial results reported by Cogent Therapeutics, which showed a net loss of $0.52 per share for the first quarter of 2025. This loss was narrower than H.C. Wainwright’s initial forecast of $0.65 per share. InvestingPro data reveals the company’s overall financial health score is currently rated as WEAK, with particularly concerning metrics in profitability. Get access to 8 more exclusive ProTips and detailed financial metrics with InvestingPro.
Cogent’s research and development (R&D) and selling, general, and administrative (SG&A) expenses for the quarter were approximately $63.0 million and $11.9 million, respectively. These figures differed from H.C. Wainwright’s estimates, which had anticipated R&D expenses of $3.0 million and SG&A expenses of $12.0 million. Based on these results, H.C. Wainwright has revised its projection for the full-year 2025 net loss to $2.24 per share from the prior estimate of $2.65 per share.
As of the end of the first quarter of 2025, Cogent reported having roughly $245.7 million in cash and equivalents. H.C. Wainwright notes that this amount should provide the company with an operational runway into late 2026. This period includes the expected clinical readouts from Cogent’s ongoing SUMMIT, PEAK, and APEX registration-directed trials.
The firm’s revised price target also takes into account a projected equity raise in the fourth quarter of 2025. Despite the reduction in the price target, H.C. Wainwright reiterated its Buy rating, indicating a continued positive outlook on Cogent’s stock performance over the next 12 months.
In other recent news, Cogent Biosciences has been the focus of analyst attention, with Scotiabank (TSX:BNS) initiating coverage on the company with a Sector Outperform rating and a $17.00 price target. This positive outlook is based on upcoming clinical trial results, which could significantly influence investor confidence. Scotiabank’s analysis suggests that Cogent’s assets could achieve peak sales of $3 billion in the U.S. market, although the current share valuation does not yet reflect this potential. Meanwhile, Jefferies has reiterated its Buy rating for Cogent, maintaining a price target of $20.00. The firm is optimistic about the outcomes of pivotal studies for Cogent’s drug candidate bezu, which are expected throughout 2025. These studies are crucial as they could lead to the submission of a New Drug Application by the end of 2025, potentially transforming Cogent into a commercial entity by 2026. Jefferies highlights the importance of these milestones in positioning Cogent within the systemic mastocytosis market. Both firms underscore the potential impact of upcoming study readouts on Cogent’s market position and future commercialization efforts.
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