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Cogent Biosciences stock hits 52-week high at 12.66 USD

Published 18/07/2025, 14:36
Cogent Biosciences stock hits 52-week high at 12.66 USD
COGT
1.14%

Cogent Biosciences Inc. stock has reached a new 52-week high, hitting a price of 12.66 USD. According to InvestingPro data, the stock has shown remarkable momentum with a 51.9% gain over the past six months and currently trades at 12.75 USD. This milestone reflects a significant upward trajectory for the company, which has seen its stock rise by 47.04% over the past year. The increase underscores growing investor confidence and interest in Cogent Biosciences’ potential within the biotechnology sector. InvestingPro analysis indicates the stock may be overbought, with analyst price targets ranging from $9 to $29. The company maintains a "FAIR" overall financial health score, though investors should note there are 10+ additional ProTips available for deeper analysis.

In other recent news, Cogent Biosciences has reported promising results from its SUMMIT trial for bezuclastinib in treating non-advanced systemic mastocytosis, achieving statistical significance in both primary and secondary endpoints. The company plans to submit a New Drug Application to the FDA by the end of 2025. Additionally, Cogent announced a $150 million public offering of common stock to fund further development and preparation activities for bezuclastinib. The offering is managed by J.P. Morgan, Leerink Partners, and Guggenheim Securities. Analyst firms have responded positively, with Citi raising its price target to $22 and Jefferies increasing it to $28, both maintaining a Buy rating. Leerink Partners also raised its price target to $18, citing the drug’s impressive trial data and safety profile. The company has a strong financial position with a current cash balance of $237 million and an additional $350 million available through a debt facility. Upcoming trial readouts for gastrointestinal stromal tumors and advanced systemic mastocytosis are expected in the second half of 2025.

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