Analyst Andrew Berens of Leerink Partners maintained a Buy rating on Cogent Biosciences (COGT – Research Report), retaining the price target of $16.00.
Andrew Berens has given his Buy rating due to a combination of factors related to Cogent Biosciences’ promising pipeline and financial stability. The company is on track with its pivotal readouts for the bezuclastinib program, expected in 2025, which includes trials in indolent systemic mastocytosis (ISM) and advanced systemic mastocytosis (ASM). The initial results have shown promising differentiation in efficacy compared to competitors, and the upcoming data presentations are anticipated to further showcase the drug’s benefits and safety profile.
Additionally, Cogent Biosciences’ financial position is strong, with cash reserves expected to fund operations into late 2026. The company’s strategic plans to submit Investigational New Drug applications for other promising candidates in 2025 further support the positive outlook. These factors combined with the potential market advantages of bezuclastinib in various indications underpin Berens’s optimistic Buy rating.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $16.00 price target.