Citi analyst David Lebowitz maintained a Buy rating on Cogent Biosciences (COGT – Research Report) today and set a price target of $15.00.
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David Lebowitz has given his Buy rating due to a combination of factors that suggest a promising outlook for Cogent Biosciences. The company is expected to report pivotal data from the SUMMIT Part 2 trial for bezuclastinib, a development that could significantly impact the stock’s performance. Despite previous investor concerns about liver safety signals, these issues appear to be overstated, and the current low stock price presents an attractive risk/reward opportunity.
Lebowitz anticipates that the upcoming data release could lead to a substantial increase in the stock’s value, potentially exceeding a 100% upside. This expectation is based on a scenario analysis that considers various outcomes, all of which suggest a favorable market reaction. Consequently, the analyst has placed Cogent Biosciences on a 30-Day Upside Catalyst Watch, indicating a short-term potential for significant gains.
In another report released on June 25, Piper Sandler also maintained a Buy rating on the stock with a $24.00 price target.