LifeSci Capital analyst Sam Slutsky maintained a Buy rating on Cogent Biosciences (COGT – Research Report) today and set a price target of $16.00.
Sam Slutsky has given his Buy rating due to a combination of factors including Cogent Biosciences’ promising pipeline and upcoming milestones. The company is anticipating critical data readouts in 2025 for its lead asset, bezuclastinib, which targets systemic mastocytosis and gastrointestinal stromal tumors. These studies are expected to provide significant market opportunities, with non-advanced systemic mastocytosis alone representing a potential $2 billion annual market in the US.
Additionally, Cogent Biosciences is advancing other assets in its pipeline, such as CGT4859, CGT4255, and CGT6297, which could further enhance its growth prospects. The company’s recent data updates have shown a differentiated profile for bezuclastinib, supporting its potential success. With these factors in mind, Slutsky sees a strong rationale for the Buy rating, given the potential for substantial market impact and revenue growth.
Slutsky covers the Healthcare sector, focusing on stocks such as Immunovant, Oruka Therapeutics, and Astria Therapeutics. According to TipRanks, Slutsky has an average return of -5.2% and a 32.41% success rate on recommended stocks.
In another report released yesterday, Jefferies also reiterated a Buy rating on the stock with a $20.00 price target.