Cohn, the Grammy Award winner for his son Walking in Memphis, has miraculously survived the shooting.
According to his agent, the singer was a passenger in the car Monday morning when the incident occured. He was taken to a hospital where the bullet was removed from his temple.
Cohn was on tour with Suzanne Vega and hopes to be fully recovered in order to return to the tour soon.
Police issued an arrest warrant for Joseph William Yachteen, 26, who is considered the prime suspect in the case.