H.C. Wainwright analyst Robert Burns lowered the firm’s price target on Cogent Biosciences (COGT) to $14 from $17 and keeps a Buy rating on the shares after GSK (GSK) announced that it has entered into an agreement to acquire privately-held IDRx, a clinical-stage biopharmaceutical company dedicated to developing precision therapeutics for the treatment of gastroinestinal stromal tumors. The firm says GSK bought a rival KIT tyrosine kinase inhibitor to Cogent.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COGT:
- Cogent Biosciences highlighted key 2025 milestones
- Cogent Biosciences downgraded to Hold from Buy at Needham
- Cogent Biosciences announces updates results from SUMMIT
- Cogent Biosciences announces updated data from ongoing Phase 2 APEX trial
- Cogent Biosciences price target raised to $21 from $19 at JPMorgan