Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on Cogent Biosciences (COGT – Research Report), reducing the price target to $12.00.
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Robert Burns has given his Buy rating due to a combination of factors including Cogent Biosciences’ financial performance and upcoming clinical trial results. The company reported a narrower net loss per share for 1Q25 than previously forecasted, indicating better-than-expected financial management. Additionally, Cogent’s cash reserves are projected to support operations into late 2026, providing a stable financial runway.
Looking forward, several key clinical trial results are anticipated, including the SUMMIT, APEX, and PEAK trials, which could significantly impact the company’s valuation. Burns employs a discounted cash flow model with specific probabilities of approval for Cogent’s drug candidates, leading to a projected market value of $1.56 billion. Despite potential risks such as negative clinical outcomes or regulatory setbacks, the overall outlook supports a Buy rating with a revised price target of $12 per share.
According to TipRanks, Burns is an analyst with an average return of -22.1% and a 25.60% success rate. Burns covers the Healthcare sector, focusing on stocks such as Perspective Therapeutics, TuHURA Biosciences, and Springworks Therapeutics.
In another report released on May 13, LifeSci Capital also maintained a Buy rating on the stock with a $16.00 price target.