Wedbush Downgrades Cogent Biosciences to Neutral, Lowers Price Target to $5
Portfolio Pulse from Benzinga Newsdesk
Wedbush analyst David Nierengarten has downgraded Cogent Biosciences (COGT) from Outperform to Neutral and reduced the price target from $20 to $5.
December 11, 2023 | 8:30 pm
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NEGATIVE IMPACT
Cogent Biosciences was downgraded by Wedbush from Outperform to Neutral with a significant price target cut from $20 to $5.
The downgrade from Outperform to Neutral by a reputable analyst, along with a substantial reduction in the price target, is likely to negatively impact investor sentiment and the stock price of Cogent Biosciences in the short term. The magnitude of the price target cut suggests a significant revision of the company's future earnings potential or market position.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100