In this article, we will list the 5 Most Promising Healthcare Stocks According to Wall Street Analysts. Please visit 10 Most Promising Healthcare Stocks According to Wall Street Analysts if you would like to see the extended list and the methodology behind it.
5. Cogent Biosciences, Inc. (NASDAQ:COGT)
Stock Upside: 68.25%
Market Capitalization: $5.55 billion
Number of Hedge Fund Holders: 77
Cogent Biosciences, Inc. (NASDAQ:COGT) is one of the most promising healthcare stocks according to Wall Street analysts. On June 12, Cogent Biosciences, Inc. (NASDAQ:COGT) presented early-stage preclinical data for its experimental drug CGT1145 at the European Hematology Association Congress in Stockholm, Sweden. The company presented the drug candidate as a potentially more precise and better-tolerated treatment for certain rare blood cancers compared to what is currently available.
Wichy/Shutterstock.com
The lab results showed that CGT1145 was more than 100-fold selective for JAK2 V617F over wild-type JAK2 and JAK1/3 isoforms. JAK2 V617F is a gene mutation associated with blood cancers like myelofibrosis, polycythemia vera, and essential thrombocythemia. Cogent designed CGT1145 which is a mutant-selective JAK2 inhibitor. Other treatments in the market can do that, but unlike CGT1145, they cause side effects like low blood counts because they hit both the mutated and normal versions of the gene.
The data also suggested that CGT1145 may be able to eliminate the cells that drive the rare blood cancers at a root level. As a result, it may have the potential to support molecular remission. The drug also showed strong oral bioavailability, meaning it absorbs well when taken as a pill. It also behaves consistently across different biological systems tested.
Because of the robust results, Andrew Robbins, Cogent’s President and CEO said that the company is on track to file an Investigational New Drug application with the FDA later this year.
Cogent Biosciences, Inc. (NASDAQ:COGT) is a clinical-stage biotechnology company focused on developing precision therapies for genetically defined cancers. Its lead candidate, bezuclastinib, is a selective tyrosine kinase inhibitor targeting KIT mutations.
Hedge Fund Resource Center