Cogent Biosciences initiated with a Hold at Stifel

Stifel initiated coverage of Cogent Biosciences (COGT) with a Hold rating and $16 price target The firm says that while the shares could have some more upside into the Q4 readouts in gastrointestinal stromal tumors and advanced systemic mastocytosis, success of both studies is already priced into the stock. Cogent will soon face some profit taking given the over 100% rally since July and shorting into a “heavily debated” indolent systemic mastocytosis launch in the second half of 2026, the analyst tells investors in a research note.