Truist Reiterates Positive Outlook on Compugen and Adjusts Price Target

 Truist Securities has recently reiterated its positive outlook on Compugen (NASDAQ:CGEN) while adjusting its price target. In a virtual fireside chat hosted by Asthika Goonewardene, Truist Securities Biotech Analyst, Compugen’s management discussed the promising COM701 data presented at ASCO. Additionally, Goonewardene actively participated in Compugen Ltd.’s Q2 2023 Earnings Conference Call.

While various sources provide different price targets for Compugen, it is important to note that Truist Securities has lowered its price target from $14.00 to $4.00. MarketBeat indicates that the current price target for Compugen stands at $8.33, while Tipranks reports an average price target of $4.00 with a high forecast of $4.00.

Furthermore, Benzinga reports that a total of 10 analyst firms have released ratings on Compugen, with one firm setting a price target of $13.00, expecting CGEN to experience significant growth within the next 12 months.

In terms of the statement in question, Truist Securities believes that Compugen’s dual TIGIT/PVRIG approach surpasses that of Roche, a pharmaceutical company. They consider Roche’s data to be a legitimate signal. Truist Securities maintains an optimistic stance, confident that Compugen can demonstrate a unique clinical profile that sets them apart in the industry.

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