Compugen (CGEN) PT Raised to $24 at Truist Securities

February 26, 2021 1:40 PM EST
Get Alerts CGEN Hot Sheet
Price: $8.60 --0%

Rating Summary:
    10 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 12 | Down: 10 | New: 72
Trade Now! 
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Truist Securities analyst Asthika Goonewardene raised the price target on Compugen (NASDAQ: CGEN) to $24.00 (from $22.00) while maintaining a Buy rating.

The analyst commented, "We think CGEN's clinical updates on COM701 (on earnings call) were very impressive. But shares were -13% yesterday (vs XBI -2.4%) & stock is off more than -30% from the beginning of this week (vs XBI -8%). We believe the trading this week was largely driven by the concern that majority shareholder ARK would divest its position, and thus (in theory) may under-appreciate the very impressive signals in COM701's data & positive business updates. Further, there is a plethora of catalysts ahead that can help define the drug's potential. We encourage investors to buy on this weakness."

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change

Related Entities

Earnings, ARK