Cogent Biosciences, Inc. (NASDAQ: COGT)

Sector: Healthcare Industry: Biotechnology CIK: 0001622229
P/B 24.99
P/E -25.68
P/S 0.00
Market Cap 7.56 Bn
ROIC (Qtr) -106.31
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 60.56 Mn
Debt/Equity (Qtr) 0.20

About

Cogent Biosciences, Inc., a biotechnology company (NASDAQ: COGT), is dedicated to developing precision therapies for genetically defined diseases. The company's operations revolve around the development of small molecule inhibitors that target specific mutations in proteins associated with various diseases. Cogent's primary products include bezuclastinib, a highly selective tyrosine kinase inhibitor designed to potently inhibit the KIT D816V mutation, and CGT4859, a reversible, selective FGFR2 inhibitor with coverage of activating and emerging resistance...

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Analysis

Pros

  • Healthy cash reserves of 125.63M provide 73.64x coverage of short-term debt 1.71M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 425.93M provides 7.03x coverage of total debt 60.56M, indicating robust asset backing and low credit risk.
  • Short-term investments of 265.59M provide solid 5.97x coverage of other current liabilities 44.51M, indicating strong liquidity.
  • Tangible assets of 425.93M provide robust 9.57x coverage of other current liabilities 44.51M, indicating strong asset backing.
  • Strong cash position of 125.63M provides 2.82x coverage of other current liabilities 44.51M, indicating excellent liquidity.

Cons

  • Investment activities of (15.09M) provide weak support for R&D spending of 256.27M, which is -0.06x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (245.92M) shows concerning coverage of stock compensation expenses of 40.30M, with a -6.10 ratio indicating potential earnings quality issues.
  • Free cash flow of (246.73M) provides weak coverage of capital expenditures of 818000, with a -301.63 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (292.60M) show weak coverage of depreciation charges of 4.55M, with a -64.31 ratio indicating high capital intensity and potential reinvestment needs.
  • Free cash flow of (246.73M) represents just -5.25x of debt issuance 46.99M, suggesting concerning reliance on leverage rather than internal cash generation for growth.

Peer Comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,349.40 Bn -1,464.17 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 437.43 Bn 6,381.20 87.97 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 116.09 Bn 31.59 9.90 1.83 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 78.10 Bn 17.06 5.48 2.71 Bn
5 ALNY Alnylam Pharmaceuticals, Inc. 55.87 Bn 1,282.42 17.40 3.21 Bn
6 ARGX Argenx Se 52.85 Bn 35.08 27,559.65 -
7 BNTC Benitec Biopharma Inc. 41.75 Bn -998.33 0.00 0.00 Bn
8 INSM INSMED Inc 37.80 Bn -31.93 84.56 0.74 Bn

Industry Comparisons

Current Valuation

Metric Value Industry Percentile
EV to Assets 17.59 12.31
EV to Cash from Ops. -30.46 23.25
EV to Debt 123.71 738.44
EV to EBIT -25.60 -9.16
EV to EBITDA -24.72 6.95
EV to Free Cash Flow [EV/FCF] -30.36 21.90
EV to Market Cap 0.99 65.67
EV to Revenue 0.00 227.32
Price to Book Value [P/B] 24.99 22.34
Price to Earnings [P/E] -25.68 -11.77

Dividend Metrics

Metric Value Industry Percentile
Dividend Coverage Ratio 0.00 -11.94
Dividend Payout Ratio % 0.00 0.16
Dividend per Basic Share 0.00 0.01
FCF Dividend Payout Ratio % 0.00 -0.14
Interest Coverage -165.03 841.00

Growth Metrics

Metric Value Industry Percentile
Capex Growth (1y) % -0.62 -27.13
Cash and Equivalents Growth (1y) % 29.46 734.65
Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % -20.76 -46.93
EBITDA Growth (1y) % -18.20 -1.68
EBIT Growth (1y) % -20.76 -56.45
EBT Growth (1y) % -21.49 -12.70
EPS Growth (1y) % -3.14 -28.31
FCF Growth (1y) % -28.44 -31.90
Gross Profit Growth (1y) % 0.00 226.84

Liquidity Ratios

Metric Value Industry Percentile
Asset Utilization Ratio 0.00 0.14
Cash Payout Ratio 0.00 0.00
Cash Ratio 2.02 3.85
Current Ratio 6.38 7.27
Debt to Equity Ratio 0.20 0.40
Interest Cover Ratio -165.03 841.00
Times Interest Earned -165.03 841.00

Profitability

Metric Value Industry Percentile
EBITDA Margin % 0.00 -18,234.31
EBIT Margin % 0.00 -18,580.80
EBT Margin % 0.00 -19,488.74
Gross Margin % 0.00 -7.59
Net Profit Margin % 0.00 -19,439.22