Cogent Biosciences price target raised to $22 from $12 at H.C. Wainwright

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%..