William Blair analyst Matt Phipps has maintained their bullish stance on CGEM stock, giving a Buy rating today.
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Matt Phipps has given his Buy rating due to a combination of factors that highlight Cullinan Management’s strategic positioning and potential for future growth. Despite the delay in the readout for the Phase I study of CLN-978 in systemic lupus erythematosus (SLE), the postponement is attributed to stringent enrollment criteria rather than adverse clinical findings. This indicates confidence in the drug’s profile and suggests that the delay does not reflect negatively on its potential efficacy.
Additionally, Cullinan’s pipeline remains robust with significant upcoming catalysts, including data from both SLE and rheumatoid arthritis (RA) expected in the first half of 2026, as well as initial data from CLN-049 anticipated later this year. The management’s proactive approach in addressing enrollment challenges and maintaining timelines for other developments, such as in Sjogren’s disease and RA, further supports the Buy rating. These strategic moves underscore the company’s commitment to advancing its pipeline and enhancing shareholder value.
In another report released today, JonesTrading also maintained a Buy rating on the stock with a $34.00 price target.