JPMorgan initiated coverage of Cogent Biosciences with an Overweight rating and $18 price target. The company’s lead asset bezuclastinib has differentiated potential in the key indications of advanced systemic mastocytosis, non-advanced systemic mastocytosis and gastrointestinal stromal tumors, the analyst tells investors in a research note. The firm has been encouraged by the initial signals of activity for bezuclastinib.
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