Bezuclastinib’s Strong Phase 3 GIST Data and NDA Catalyst Support Buy Rating and $52 Target

Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on Cogent Biosciences, retaining the price target of $52.00.

Robert Burns has given his Buy rating due to a combination of factors, primarily the strong clinical performance of bezuclastinib in second-line GIST and the recent completion of its NDA submission under the FDA’s Real-Time Oncology Review program. He views the Phase 3 PEAK data, which showed materially better response rates and progression-free survival for bezuclastinib plus Sutent versus Sutent alone, as sufficiently compelling to support approval and to position the combination as a likely new standard of care in this setting.

Burns also highlights management’s intention to extend bezuclastinib’s use into earlier GIST treatment lines, which could further expand the drug’s commercial opportunity and strategic value. His DCF-based valuation, incorporating high probabilities of approval across systemic mastocytosis and 2L GIST, results in a projected market value that underpins a $52, 12‑month price target, while he acknowledges clinical, regulatory, and execution risks that investors should monitor.

In another report released on March 21, LifeSci Capital also maintained a Buy rating on the stock with a $55.00 price target.