Nov. 11 at 12:54 PM
Raymond James y'day⬆️
$COGT's PT to
$60 from
$30, and keeps at a Strong Buy and an Analyst Current Favorite Name.
$PFE BPMC -
$SNY $GSK $OPHLY
Raymond James said:
Remain Strong Buy rated on COGT shares with a new price target of
$60 after the company top-lined what we see as a groundbreaking event in the treatment of GIST (gastrointestinal stromal tumors).
With PEAK showing a clear and unprecedented 7.3 month PFS advantage over standard of care sunitinib monotherapy in 2L GIST (16.5mo versus 9.2mo), we think a legit
$4B incremental revenue opportunity has been unlocked, and are now raising our GIST revenue estimates to
$194M,
$445M,
$759M and
$1.03B for FY27-FY30, respectively, contributing an incremental
$25/share to our DCF/SoP.
Combining this with our continued expectation for robust uptake in SM (systemic mastocytosis, NDA expected by YE25, approval/launch 2Q26/3Q26), we raise our price target to
$60/share. This name remains our Analyst Current Favorite.
