Cogent Biosciences remains top pick into ‘derisking’ events at Piper Sandler

Piper Sandler analyst Christopher Raymond keeps an Overweight rating on Cogent Biosciences with a $22 price target following the company’s recent financing. The analyst says bezuclastinib’s “unique” mutational selectivity and safety profile position it well across the systemic mastocytosis disease spectrum. The firm is confident that updates later this year will continue to support bezuclastinib’s “best-in-class potential.” Piper remains a buyer of Cogent “in front of a number of derisking data events this later year” and says the stock remains a top pick.