Baird raised the firm’s price target on Cogent Biosciences to $10 from $8 and keeps a Neutral rating on the shares. The firm noted Cogent announced the completion of enrollment for its pivotal PEAK study in GIST, with data still expected by YE25. Additionally, completion of enrollment for the pivotal SUMMIT study in NonAdvSM is now expected in 1Q25. Enrollment from both studies points to strong global interest. Overall, Baird continues to view bezuclastinib as an active molecule with potential across multiple indications, though, they believe the market potential/risk of its programs are fairly valued around these levels.
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