Leerink Partners analyst Andrew Berens has maintained their bullish stance on CGEM stock, giving a Buy rating yesterday.
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Andrew Berens has given his Buy rating due to a combination of factors that highlight Cullinan Management’s promising pipeline and financial stability. The company is set to present positive results from the REZILIENT1 trial for zipalertinib in NSCLC, which could be a significant milestone as they plan to submit an NDA later this year. Despite discontinuing CLN-619 in gynecological cancers, Cullinan is progressing with its development in NSCLC and multiple myeloma, indicating a strategic focus on areas with higher potential.
Additionally, the initiation of a Phase 1 study for CLN-978 in Sjögren’s disease, along with ongoing trials in SLE and RA, shows the company’s commitment to diversifying its portfolio beyond oncology. The anticipated data release for CLN-978 in SLE could serve as a critical catalyst for the stock. With a strong cash position expected to support operations into 2028, Cullinan Management is well-positioned to advance its pipeline, justifying the Buy rating despite a slight reduction in the price target to $28.
In another report released yesterday, UBS also maintained a Buy rating on the stock with a $24.00 price target.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CGEM in relation to earlier this year.