Leerink Partners analyst Andrew Berens maintained a Buy rating on Cogent Biosciences on July 14 and set a price target of $18.00.
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Andrew Berens has given his Buy rating due to a combination of factors influencing Cogent Biosciences’ stock. The company’s promising future is highlighted by the upcoming pivotal trials for bezuclastinib, specifically the APEX trial in advanced systemic mastocytosis and the PEAK trial in second-line gastrointestinal stromal tumors. Investors are particularly interested in the GIST opportunity due to its significant revenue potential, as evidenced by recent high-value acquisitions in the sector.
Furthermore, the positive market reaction following the SUMMIT topline data release indicates strong investor confidence in Cogent’s strategic direction. The removal of a key competitor, BPMC, is also seen as a positive development, reducing market headwinds for Cogent. With several catalysts on the horizon, including anticipated topline results and regulatory submissions, Berens believes that Cogent is well-positioned for growth, justifying the Buy rating and the reiterated price target.
According to TipRanks, Berens is an analyst with an average return of -2.7% and a 41.07% success rate. Berens covers the Healthcare sector, focusing on stocks such as Incyte, AstraZeneca, and Cogent Biosciences.
In another report released on July 12, LifeSci Capital also maintained a Buy rating on the stock with a $20.00 price target.