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Investing.com - Stifel initiated coverage on Cogent Biosciences (NASDAQ:COGT) with a Hold rating and a $16 price target on Wednesday. The stock currently trades at $16.58, near its 52-week high of $16.99, after posting an impressive 217% return over the past six months. According to InvestingPro data, analyst targets for COGT range from $11 to $30, with additional insights available to subscribers.
Analyst Laura Prendergast noted that while Cogent could see additional upside ahead of pivotal readouts in GIST and AdvSM expected in the fourth quarter of 2025, the firm believes success in both studies is already reflected in the current share price. The company, valued at $2.3 billion, maintains strong liquidity with a current ratio of 4.19, indicating solid financial positioning ahead of these crucial readouts.
Stifel expects Cogent will face profit-taking pressure after gaining more than 100% since July 2025, with additional shorting activity likely as the company approaches its ISM launch anticipated in the second half of 2026.
The firm’s key opinion leader checks suggest Blueprint Medicine/Sanofi’s AYVAKIT will remain the preferred treatment option in ISM for the foreseeable future, creating a competitive challenge for Cogent’s bezuclastinib.
Stifel projects bezuclastinib will generate $1.8 billion in global revenue by 2035 across non-AdvSM, AdvSM, and GIST indications, with an approximately 25%/75% systemic mastocytosis market split between Cogent and Sanofi.
In other recent news, Cogent Biosciences has been the subject of several analyst updates and developments. Raymond James has reiterated its Strong Buy rating for Cogent, maintaining a $30.00 price target, as the company prepares for significant fourth-quarter 2025 catalysts related to its drug bezuclastinib. The firm also added Cogent to its Analyst Current Favorites list, highlighting the drug’s potential in the systemic mastocytosis market. Guggenheim has raised its price target for Cogent to $20.00 from $17.00, maintaining a Buy rating, following positive topline data from the Phase 3 SUMMIT study of bezuclastinib. Similarly, Citi increased its price target to $22.00 from $15.00, citing positive results from the SUMMIT trial. These updates come as Cogent anticipates further announcements from its APEX and PEAK registration studies in 2025. The company’s bezuclastinib drug continues to draw attention for its efficacy and safety benefits, as noted by Raymond James. These developments reflect the growing interest and potential seen in Cogent’s clinical trials and drug advancements.
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