JPMorgan raised the firm’s price target on Cogent Biosciences (COGT) to $25 from $21 and keeps an Overweight rating on the shares. The firm says top-line pivotal SUMMIT Part 2 data for bezuclastinib in non-advanced systemic mastocytosis is expected in July. It sees a “very favorable” reward/risk profile for Cogent shares heading into the data. JPMorgan’s “base case win scenario” is a 50% symptom benefit relative to Ayvakit in the PIONEER study.
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