Sam Slutsky, an analyst from LifeSci Capital, maintained the Buy rating on Cogent Biosciences. The associated price target was raised to $53.00.
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Sam Slutsky’s rating is based on the impressive results from Cogent Biosciences’ Phase 3 PEAK study, which tested bezuclastinib in combination with sunitinib for second-line treatment of gastrointestinal stromal tumors (GIST). The study demonstrated a significant improvement in median progression-free survival and objective response rates compared to sunitinib alone, suggesting that bezuclastinib could become the new standard of care for this condition.
Additionally, the safety profile of the combination was favorable, with no unique risks observed and a lower incidence of certain adverse events compared to sunitinib alone. The potential market opportunity for bezuclastinib is substantial, with GIST being viewed as a multi-billion dollar global market. These factors, along with the planned NDA submission for bezuclastinib in 2026, have led to an increased price target for Cogent Biosciences’ stock, supporting the Buy rating.
In another report released today, Stifel Nicolaus also upgraded the stock to a Buy with a $40.00 price target.