Cogent Biosciences assumed with a Buy at Jefferies

Jefferies analyst Faisal Khurshid assumed coverage of Cogent Biosciences (COGT) with a Buy rating and $55 price target The firm views Cogent as “one of the cleanest late-stage biotech setups.” The company’s bezuclastinib looks like a “best-in-class” KIT inhibitor, with “differentiating” Phase 3 data across three indications, the analyst tells investors in a research note. Jefferies sees a launch story as soon as Q3.