Cogent Biosciences (COGT) AI Stock Analysis

• Market Cap: $5.41B
• Dividend Yield: N/A
• Average Volume (3M): 2.37M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.75
• Revenue Growth: N/A
• EPS Growth: 4.32%
• Country: US
• Employees: 205
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.50
• Shares Outstanding: 152,053,960
• 10 Day Avg. Volume: 2,160,565
• 30 Day Avg. Volume: 2,372,627
• PEG Ratio: -1.92
• Price to Book (P/B): 3.16
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.89
• Enterprise Value/Market Cap: 0.32
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -1.51K
• Enterprise Value/Ebitda: -5.90
• 1Y Price Target: $48.70
• Price Target Upside: 36.91% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): -1.75
• Revenue Forecast (FY): $46.80M

• Rating: 56 Neutral
• Price Target: $39.00 ▲(9.64% Upside)

The score is held back primarily by weak financial performance (no revenue, widening losses, and substantial cash burn with rising debt), partially offset by constructive technical momentum and meaningful positive clinical-trial corporate events that improve the long-term opportunity set. Valuation signals remain challenged due to ongoing losses and lack of dividend support.

Positive Factors

Strong Equity Position

A strong equity position with limited financial leverage provides a solid foundation for future growth and resilience against financial challenges.

Precision Therapies Focus

Focusing on precision therapies for genetic diseases positions the company in a niche market with potential for high-impact treatments and partnerships.

Partnership Opportunities

Partnerships can provide resources, expertise, and financial support, enhancing product development and market reach.

Negative Factors

No Recent Revenue

The absence of recent revenue highlights challenges in monetizing products, which can strain financial resources and delay growth.

Negative Cash Flows

Negative cash flows indicate reliance on external funding, which can limit operational flexibility and increase financial risk.

Substantial Operating Losses

Substantial operating losses reflect challenges in achieving profitability, which can hinder investment in growth and innovation.

Cogent Biosciences Business Overview & Revenue Model

Company Description

Cogent Biosciences, Inc., a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes CGT9486, a selective tyrosine kinase inhibitor designed to inhibit the 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. It has a licensing agreement with Plexxikon Inc. for the research, development, and commercialization of bezuclastinib. The company was formerly known as Unum Therapeutics Inc. and changed its name to Cogent Biosciences, Inc. in October 2020. Cogent Biosciences, Inc. was incorporated in 2014 and is headquartered in Cambridge, Massachusetts.

How the Company Makes Money

Cogent Biosciences makes money primarily through the development and commercialization of its precision therapies. The company generates revenue by advancing its drug candidates through clinical trials, securing regulatory approvals, and eventually launching these products into the market. Revenue streams include potential sales of approved therapies, milestone payments, and royalties from partnerships with larger pharmaceutical companies who may assist in the distribution and marketing of their products. Significant partnerships with other biotech firms and research institutions may also contribute to earnings by sharing resources, expertise, and financial support in the development of their therapies.

Cogent Biosciences Financial Statement Overview

Summary

Cogent Biosciences faces significant financial challenges with no recent revenue, substantial operating losses, and consistent net losses. The strong equity position is overshadowed by negative operating and free cash flows, indicating a reliance on external financing and heightened financial vulnerabilities.

Income Statement

Cogent Biosciences has experienced declining revenue over the years, with no recorded revenue in recent periods. Despite a high gross profit in earlier years, recent operating losses have been substantial, leading to negative EBIT and net income. The absence of revenue growth and consistent net losses indicate a challenging profitability environment.

Balance Sheet

The company's balance sheet shows a strong equity position with a high equity ratio, indicating limited financial leverage. However, persistent negative net income has impacted equity growth. Despite a relatively low debt-to-equity ratio, the lack of revenue generation poses a risk to financial stability.

Cash Flow

Cogent Biosciences has consistently negative operating and free cash flows, which raises concerns about long-term sustainability. While financing activities have historically supported liquidity, the reliance on external funding and absence of positive cash flow from operations suggest financial vulnerabilities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	7.87M
Gross Profit	-1.16M	0.00	0.00	0.00	0.00	-17.87M
EBITDA	-297.31M	-271.59M	-204.54M	-141.96M	-73.56M	-34.57M
Net Income	-294.37M	-255.86M	-192.41M	-140.24M	-72.27M	-74.81M
Balance Sheet
Total Assets	425.93M	327.90M	313.44M	300.81M	232.09M	250.92M
Cash, Cash Equivalents and Short-Term Investments	390.89M	287.08M	265.71M	259.28M	219.68M	242.19M
Total Debt	60.56M	17.47M	18.85M	19.65M	3.15M	5.21M
Total Liabilities	123.47M	71.61M	55.63M	45.08M	17.91M	16.25M
Stockholders Equity	302.46M	256.29M	257.80M	255.74M	214.18M	234.67M
Cash Flow
Free Cash Flow	-246.73M	-208.36M	-156.42M	-125.50M	-60.48M	-35.85M
Operating Cash Flow	-245.92M	-207.79M	-153.62M	-118.64M	-58.76M	-35.85M
Investing Cash Flow	-15.09M	38.28M	-97.82M	-124.72M	-1.72M	8.42M
Financing Cash Flow	289.59M	214.45M	163.54M	163.56M	37.98M	232.20M

Cogent Biosciences Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 35.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COGT, the sentiment is Neutral. The current price of 35.57 is below the 20-day moving average (MA) of 38.14, above the 50-day MA of 33.53, and above the 200-day MA of 15.55, indicating a neutral trend. The MACD of 0.10 indicates Positive momentum. The RSI at 46.73 is Neutral, neither overbought nor oversold. The STOCH value of 36.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for COGT.

Cogent Biosciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HRMY	81 Outperform	$2.18B	11.93	25.93%	―	21.13%	50.86%
BEAM	58 Neutral	$2.84B	-6.31	-47.19%	―	-84.07%	-157.71%
COGT	56 Neutral	$5.41B	-15.01	-95.40%	―	―	4.32%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IRON	51 Neutral	$2.99B	-14.80	-34.78%	―	―	-34.96%
IDYA	50 Neutral	$3.19B	-19.64	-14.15%	―	5376.27%	20.97%
IMCR	47 Neutral	$1.67B	-56.57	-7.52%	―	27.51%	38.72%

Cogent Biosciences Corporate Events

Cogent Biosciences Reports Positive Clinical Trial Results

On December 6 and 8, 2025, Cogent Biosciences announced significant results from their clinical trials of bezuclastinib for systemic mastocytosis. The SUMMIT trial showed that bezuclastinib led to substantial improvements in patients with nonadvanced systemic mastocytosis, while the APEX trial demonstrated positive outcomes for those with advanced systemic mastocytosis. These results bolster Cogent’s position in the biotech industry and pave the way for a new drug application to the FDA, with potential implications for patients and stakeholders.

The most recent analyst rating on (COGT) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Cogent Biosciences stock, see the COGT Stock Forecast page.

Cogent Biosciences Completes $230M Convertible Notes Offering

On November 18, 2025, Cogent Biosciences completed a public offering of $230 million in Convertible Senior Notes due 2031. This financial move is designed to strengthen the company’s capital structure and potentially enhance its market position by providing flexibility for future growth and operations. The Notes, which are unsecured and senior obligations, offer conversion options under specific conditions and are subject to redemption and repurchase terms. The offering could impact stakeholders by influencing the company’s financial strategies and market dynamics.

The most recent analyst rating on (COGT) stock is a Buy with a $53.00 price target. To see the full list of analyst forecasts on Cogent Biosciences stock, see the COGT Stock Forecast page.

Cogent Biosciences Announces Pricing of Public Offerings

On November 11, 2025, Cogent Biosciences announced the pricing of its public offerings, which include 9,677,420 shares of common stock at $31.00 per share and $200 million in 1.625% convertible senior notes due 2031. The equity offering was upsized from the initially planned $200 million, and the net proceeds from both offerings are expected to be approximately $475.3 million. These funds will be used to repay existing loans and support the development and commercialization of bezuclastinib and other product candidates. The equity offering is set to close on November 13, 2025, and the convertible notes offering on November 18, 2025, with no dependency on each other’s closing.

The most recent analyst rating on (COGT) stock is a Hold with a $34.00 price target. To see the full list of analyst forecasts on Cogent Biosciences stock, see the COGT Stock Forecast page.

Cogent Biosciences Announces Positive Phase 3 Trial Results

On November 10, 2025, Cogent Biosciences announced positive results from its bezuclastinib PEAK Phase 3 Trial in patients with imatinib-resistant or intolerant GIST. The trial demonstrated that the combination of bezuclastinib with sunitinib significantly improved progression-free survival and objective response rates compared to sunitinib alone. The results suggest a potential new standard of care for second-line GIST treatment, with a projected global market opportunity exceeding $4 billion. The company plans to present detailed results at a major medical conference in 2026, indicating a significant impact on its market positioning and potential commercial success.

The most recent analyst rating on (COGT) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on Cogent Biosciences stock, see the COGT Stock Forecast page.