In a report released on May 20, Daina Graybosch from Leerink Partners maintained a Buy rating on Compugen (CGEN – Research Report), with a price target of $10.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Daina Graybosch has given her Buy rating due to a combination of factors that highlight Compugen’s potential for long-term value. Despite the absence of significant internal catalysts until after 2026, the potential for royalties and milestones from AstraZeneca’s development of rilvegostomig, a TIGIT x PD-1 bispecific, underpins a positive outlook for the company. AstraZeneca’s aggressive progression into Phase 3 studies with rilvegostomig, despite setbacks in the TIGIT field, suggests a higher likelihood of Compugen benefiting from future royalties.
Furthermore, AstraZeneca’s strategy of pursuing combinations with antibody-drug conjugates and the potential for milestone achievements in specific trials bolster the positive sentiment. Compugen’s financial position, with $104 million in cash expected to sustain operations until 2027, adds to the confidence in its stability and future prospects. The revised price target of $10 reflects these considerations, alongside the potential impact of earlier Phase 3 trials by Arcus and Gilead, which could significantly influence Compugen’s stock movement.
CGEN’s price has also changed slightly for the past six months – from $1.430 to $1.410, which is a -1.40% drop .