Cogent Biosciences price target lowered to $13 from $27 at H.C. Wainwright

H.C. Wainwright analyst Robert Burns lowered the firm’s price target on Cogent Biosciences to $13 from $27 and keeps a Buy rating on the shares. The initial SUMMIT results shows that bezuclastinib is active, but it may not differentiate from the competition at this stage, the analyst tells investors in a research note. As such, the firm says bezuclastinib is now in a “show me” position.