Analyst Sean Laaman from Morgan Stanley maintained a Buy rating on Cullinan Management and keeping the price target at $28.00.
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Sean Laaman has given his Buy rating due to a combination of factors, primarily focusing on the promising clinical data for Cullinan Management’s CLN-049 in treating relapsed or refractory acute myelogenous leukemia (R/R AML). The Phase 1 study results demonstrated encouraging response rates, with a 31% complete remission rate at the highest dose, indicating potential efficacy in a heavily pre-treated patient population.
Furthermore, the safety profile of CLN-049 is favorable, with most cytokine release syndrome events being mild and manageable, and no severe cases leading to treatment discontinuation. The company’s strategic development plan, including a pivotal single-arm Phase 2 study for accelerated approval and a combination strategy for first-line treatment, highlights a clear path to market. These factors, combined with the significant market opportunity in AML treatment, underpin Laaman’s positive outlook on the stock.
In another report released yesterday, JonesTrading also maintained a Buy rating on the stock with a $36.00 price target.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CGEM in relation to earlier this year.