After graduating from the Brighton & Hove Albion academy in August 2019, the 23-year-old enjoyed loan spells at Union SG in Belgium and Tynecastle before moving to Scotland permanently ahead of the 2022-23 season.
Cochrane has been a regular figure for the Jambos at left-back this season, making 23 starts in the Scottish Premiership, providing three assists.
The defender also possesses some international experience, having represented England Under-20s during the earlier stages of his blossoming career.
According to Edinburgh News, Hearts have decided on a transfer strategy as the club looks set to receive offers for Cochrane during the upcoming summer window.
The report claims that Steven Naismith's side have slapped a £2m asking price on the former Brighton man, with interest from English clubs expected.
It is understood that Hearts will be firm in their negotiations, with the aforementioned seven-figure sum being the minimum that they will agree to ahead of next season.
Following supposed interest in Cochrane during the January transfer window, it is said that Vincent Kompany's Burnley could be back in the race when trading resumes in the summer.
The Clarets' Lancashire rivals Blackburn Rovers were also linked with a move for the left-back, however a potential summer swoop is likely dependent on their divisional status come August.
Having failed to win any of their eight league matches since John Eustace arrived to replace Jon Dahl Tomasson at Ewood Park, Rovers are sitting in 17th in the Championship standings, three points above 22nd-placed Huddersfield Town.
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