H.C. Wainwright reiterated a Buy rating and $55 price target on Cogent Biosciences (NASDAQ:COGT) following Phase 3 PEAK trial results presented at ASCO.
The trial evaluated bezuclastinib plus Sutent vs. Sutent alone in second-line imatinib-resistant GIST. The combination showed a 45.6% objective response rate vs. 25.8% for Sutent monotherapy (p<0.0001).
Progression-free survival was 16.5 months for the combination vs. 9.2 months for Sutent, with a hazard ratio of 0.50 (p<0.0001). The combination also reduced the risk of progression or death on next-line therapy by 43% (PFS2 HR 0.57).
The FDA accepted the NDA for the combination in second-line GIST and set a PDUFA date of November 30, 2026. H.C. Wainwright expects a smooth review process.
Cogent reported Q1 2026 net loss of $0.53 per share, in line with estimates. Raymond James maintains a Strong Buy rating with a $60 target.
This article was generated with AI support and reviewed by an editor.
