Analyst Issues Buy Rating on Cogent Biosciences Amid Clinical and Financial Milestones

Leerink Partners analyst Andrew Berens has reiterated their bullish stance on COGT stock, giving a Buy rating on May 8.

Andrew Berens has given his Buy rating due to a combination of factors concerning Cogent Biosciences’s operational progress and clinical trial advancements. Berens’s positive outlook is anchored in the company’s ongoing clinical programs, which are advancing as planned. The upcoming updates from the PEAK Part 1 trial for bezuclastinib in combination with sunitinib in second-line Gastrointestinal Stromal Tumors (GIST) are particularly noteworthy. Berens likely sees promise in the reported objective response rate (ORR) from previous data presentations, as well as the manageable safety profile when compared to the standard treatment. The anticipation of further data on duration and progression-free survival (PFS) contributes to the optimism surrounding Cogent Biosciences.

In addition to the GIST program, Berens likely considers the enrollment and data release timelines for bezuclastinib trials in systemic mastocytosis (SM) to be on track, which could potentially lead to registration-directed outcomes. The initiation of a Phase 1 trial for CGT4859 is yet another positive indicator of the company’s robust pipeline. Furthermore, Cogent Biosciences’s financial position, with a substantial cash reserve that is projected to fund operations well into 2027, provides a stable foundation for ongoing and future research and development efforts. These strategic and financial elements likely form the basis for Berens’s confidence in the company’s stock, warranting the Buy rating.

According to TipRanks, Berens is a 2-star analyst with an average return of -0.1% and a 40.83% success rate. Berens covers the Healthcare sector, focusing on stocks such as AstraZeneca, Incyte, and Blueprint Medicines.

In another report released on May 8, Citi also maintained a Buy rating on the stock with a $13.00 price target.

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Cogent Biosciences (COGT) Company Description:

Unum Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel immunotherapy products designed to harness the power of a patient’s immune system to cure cancer. The firm’s technologies include Antibody-Coupled T-cell Receptor, which is a chimeric protein that binds to tumor targeting antibodies. The company was founded by Charles Wilson and Dario Campana in March 2014 and is headquartered in Cambridge, MA.