Needham downgraded Cogent Biosciences (COGT) to Hold from Buy without a price target The firm says its expert feedback on the latest feedback raises concerns on the utilization of bezuclastinib in non-advanced systemic mastocytosis due to its less favorable safety profile than Ayvaki. Looking ahead at data in 2025, bezuclastinib’s safety profile could remain a headwind as Cogent reports data from a larger cohort in SUMMIT Part 2 in mid-2025, the analyst tells investors in a research note. It reduced bezuclastinib sales estimates and downgraded the shares.
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