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Investing.com - Raymond James has added Cogent Biosciences (NASDAQ:COGT) and Dime Community Bancshares (NASDAQ:DCOM) to its Analyst Current Favorites list, citing strong growth potential for both companies. COGT has demonstrated impressive momentum, with shares surging over 73% in the past six months. InvestingPro data reveals 5 analysts have recently revised their earnings expectations upward for the upcoming period.
For Cogent Biosciences, Raymond James highlights the company’s bezuclastinib drug, which it believes possesses "best-in-class potential" in the systemic mastocytosis market. The firm points to strong clinical data and key opinion leader feedback supporting the drug’s efficacy and safety benefits compared to competitors. With a strong liquidity position evidenced by a current ratio of 4.19 and more cash than debt on its balance sheet, the company appears well-positioned to fund its drug development programs.
Raymond James notes Cogent has pivotal data in hand and plans an NDA filing by year-end 2025. The firm also mentions upcoming pivotal data in second-line gastrointestinal stromal tumor expected in the fourth quarter, which it believes investors "have ascribed almost no value to." According to InvestingPro analysis, analyst price targets range from $11 to $30, suggesting significant potential upside from current levels. Subscribers can access 8 additional exclusive ProTips and comprehensive financial metrics.
For Dime Community Bancshares, Raymond James expects core deposit growth and lower short-term interest rates to drive "material improvement" in earnings for 2026. The firm projects approximately 5 basis points of net interest margin expansion per 25 basis point rate cut.
The investment bank also anticipates Dime Community’s continued shift from commercial real estate to commercial and industrial loans will support valuation improvement over time, noting the stock trades near tangible book value (1.2x) and at a discount to peers on a P/E basis.
In other recent news, Cogent Biosciences has announced several significant developments. The company revealed positive topline data from the Phase 3 SUMMIT study of its KIT inhibitor, bezuclastinib, in non-advanced systemic mastocytosis, leading to increased interest from analysts. Guggenheim raised its price target for Cogent to $20, while Citi increased its target to $22, both maintaining a Buy rating. Jefferies also raised its price target to $28, citing impressive results from the SUMMIT trial, where all primary and secondary endpoints achieved statistical significance. Leerink Partners increased its price target to $18 following positive results from the SUMMIT Part 2 trial, highlighting an 8.91-point placebo-adjusted benefit on the primary endpoint. Additionally, Cogent announced plans for a $150 million public offering of common stock, with an option for underwriters to purchase an additional $22.5 million of shares. The company anticipates announcing top-line results from two additional registration studies, APEX and PEAK, in the second half of 2025. These developments reflect the growing potential and interest in Cogent’s ongoing research and market activities.
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