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Cogent Biosciences: Promising Pipeline and Market Opportunities Drive Buy Rating

Cogent Biosciences: Promising Pipeline and Market Opportunities Drive Buy Rating

Cogent Biosciences (COGTResearch Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Sam Slutsky from LifeSci Capital maintained a Buy rating on the stock and has a $16.00 price target.

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Sam Slutsky has given his Buy rating due to a combination of factors surrounding Cogent Biosciences’ promising pipeline and upcoming milestones. The company is poised for significant developments in 2025, particularly with its lead asset, bezuclastinib, which is undergoing several pivotal trials. These include studies for non-advanced systemic mastocytosis (non-AdvSM), advanced systemic mastocytosis (AdvSM), and second-line gastrointestinal stromal tumors (2L GIST), all expected to yield important data within the year.
Slutsky highlights the substantial market opportunities associated with these conditions, estimating the potential U.S. market for non-AdvSM at over $2 billion annually, AdvSM at $300 million, and 2L GIST at over $1 billion. Additionally, Cogent’s broader pipeline, including promising early-stage assets like CGT4859 and CGT4255, further supports the positive outlook. Recent presentations of preclinical data and ongoing studies underscore the company’s innovative approach and potential for differentiation in the market, reinforcing the Buy recommendation.

In another report released on May 7, Scotiabank also maintained a Buy rating on the stock with a $17.00 price target.

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