Needham analyst Ami Fadia has maintained their neutral stance on COGT stock, giving a Hold rating on October 22.
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Ami Fadia’s rating is based on several factors, primarily focusing on the upcoming data releases and the company’s current pipeline developments. Cogent Biosciences is expected to release data from its Phase 3 PEAK study for second-line GIST in November and from the APEX study in advanced systemic mastocytosis in December. These data readouts are anticipated to be positive by the market, which contributes to the Hold rating as the potential outcomes are already largely expected.
Ami Fadia also notes that the company’s NDA filing for bezuclastinib in non-advanced systemic mastocytosis is on schedule for the end of 2025, and there are upcoming presentations at ASH 2025. Additionally, the recent IND clearance for CGT4255, a CNS-penetrant ErbB2 inhibitor, marks a new development in their pipeline. Despite these advancements, the Hold rating reflects a cautious stance, as the anticipated positive data may not significantly alter the current market perception or stock valuation.
In another report released on October 22, Stifel Nicolaus also maintained a Hold rating on the stock with a $16.00 price target.