Guggenheim lowered the firm’s price target on Cogent Biosciences to $20 from $26 and keeps a Buy rating on the shares, citing updated bezuclastinib launch assumptions after Cogent reported Q2 financials and gave a business update that was “consistent with prior guidance.” With a cash runway into 2027 and multiple shots on goal in the next 12-18 months, the firm continues to see a favorable risk/reward, the analyst tells investors.
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