JPMorgan Raises Cogent Biosciences (COGT) PT to $67 on Sector Model Update

Group 1: Company Overview - Cogent Biosciences Inc. (NASDAQ:COGT) is recognized as a promising emerging technology stock, particularly in the biotechnology sector [1] - The company focuses on developing precision therapies for genetically defined diseases [4] Group 2: Recent Developments - On December 19, JPMorgan raised the price target for Cogent Biosciences to $67 from $65, maintaining an Overweight rating [1] - On December 8, Cogent Biosciences announced positive top-line results from the APEX Part 2 clinical trial for bezuclastinib, a selective KIT D816V inhibitor, showing an Objective Response Rate (ORR) of 57% based on modified IWG/mIWG criteria and 80% based on Pure Pathological Response criteria [2][3] - The APEX trial involved 81 patients with advanced systemic mastocytosis, with 68 evaluable patients contributing to the primary efficacy analysis [2] Group 3: Safety and Efficacy - Bezuclastinib was well-tolerated, with no patients discontinuing due to treatment-related adverse events; common side effects included hair color change (30.9%), neutropenia (29.6%), and altered taste (28.4%) [3] - Dose reductions were infrequent, occurring in only 14.8% of participants, highlighting the drug's favorable safety profile [3] Group 4: Future Plans - This announcement marks the third successful pivotal trial for bezuclastinib, following previous trials in 2025 [4] - Cogent Biosciences plans to submit a New Drug Application (NDA) to the FDA in the first half of 2026, with multiple commercial launches anticipated in the second half of that year [4] - Detailed data from the APEX trial is expected to be presented at a major medical conference in early 2026 [4]