H.C. Wainwright raised the firm’s price target on Cogent Biosciences (COGT) to $22 from $12 and keeps a Buy rating on the shares after the company reported results from the Phase 3 SUMMIT trial evaluating bezuclastinib versus placebo in patients with non-advanced systemic mastocytosis. The results potentially establish bezuclastinib as the new standard of care for mastocytosis, the analyst tells investors in a research note. H.C. Wainwright increased its probability of approval for bezuclastinib in non-advanced systemic mastocytosis to 95% from 60%..
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COGT:
- Cogent Biosciences price target raised to $9 from $7 at Baird
- Promising Outlook for Cogent Biosciences: Bezuclastinib’s Potential in Systemic Mastocytosis and Beyond
- Cogent Biosciences Receives Buy Rating on Promising Trial Results and Market Potential
- Musk to launch new political party, Trump threatens BRICS tariff: Morning Buzz
- Cogent Biosciences price target raised to $18 from $16 at Leerink