Guggenheim Reiterates "Buy" Rating for Cogent Biosciences with $17 Price Target

Guggenheim analyst Michael Schmidt reiterated a "Buy" rating for Cogent Biosciences (COGT) with a $17.00 price target. The analyst maintains confidence in the company's future performance, with a stable outlook. The average one-year price target from 10 analysts is $17.00, implying an 82.40% upside from the current price of $9.32. The brokerage recommendation is 1.9, indicating an "Outperform" status.

Cogent Biosciences (COGT) has received a positive outlook from Guggenheim analyst Michael Schmidt, who reiterated a "Buy" rating with a $17.00 price target. The analyst maintains confidence in the company's future performance, citing a stable outlook. The average one-year price target from 10 analysts is $17.00, implying an 82.40% upside from the current price of $9.32. The brokerage recommendation is 1.9, indicating an "Outperform" status.

Cogent Biosciences has been making waves in the biotechnology sector with its promising pipeline and recent clinical trial results. The company's SUMMIT trial of bezuclastinib in patients with non-advanced systemic mastocytosis (non-AdvSM) showed impressive results, with all primary and secondary endpoints achieving statistical significance. The drug demonstrated a placebo-adjusted Total (EPA:TTEF) Symptom Score (TSS) reduction of -8.91, which is approximately 57% higher than competing drug Ayvakit, despite Cogent's trial involving patients with more severe baseline conditions.

The favorable safety profile of bezuclastinib, with Grade 3 AST/ALT elevations at 5.9%, further supports its potential for chronic use. Jefferies estimates a market opportunity of approximately $1 billion for Cogent’s bezuclastinib in indolent systemic mastocytosis (ISM) alone, with additional potential in advanced systemic mastocytosis (ASM) and gastrointestinal stromal tumor (GIST) representing a total addressable market of approximately $1.3 billion.

Cogent Biosciences has a strong financial position, with $245.7 million in cash and equivalents, expected to support operations into late 2026. The company reported a net loss of $0.52 per share for the first quarter of 2025 but reiterated its positive outlook for the stock. The current market capitalization of $1.13 billion reflects the potential of Cogent's pipeline and the promising results from its clinical trials.

Analysts across the board have shown optimism towards Cogent Biosciences. Jefferies raised its price target to $28.00, Leerink Partners to $18.00, Piper Sandler to $24.00, and Citi maintained a Buy rating with a $15.00 price target. Despite varying price targets, the consensus rating is Moderate Buy, indicating a favorable outlook from Wall Street analysts.

The positive momentum in Cogent Biosciences' stock is driven by the company's strong clinical trial results and a promising pipeline. With a stable outlook and a robust financial position, Cogent Biosciences is well-positioned to capitalize on the growing market for rare diseases and oncology treatments.

References:

[1] https://ng.investing.com/news/analyst-ratings/jefferies-raises-cogent-price-target-to-28-on-positive-summit-data-93CH-1996145
[2] https://www.marketbeat.com/stocks/NASDAQ/COGT/forecast/