Jefferies raised the firm’s price target on Cogent Biosciences (COGT) to $45 from $30 and keeps a Buy rating on the shares as the firm sees the company’s PEAK second-line GIST trial “delivering a home run.” Median PFS of 16.5 months for bezuclastinib plus Sutent nearly doubled Sutent alone, exceeding the “practice-changing” bar, according to the analyst, who sees “a clear path” for Cogent to rapidly scale to a commercial biotech.
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