H.C. Wainwright analyst Edward White reiterated a Buy rating on Cullinan Management (CGEM – Research Report) today and set a price target of $33.00.
Edward White has given his Buy rating due to a combination of factors including Cullinan Management’s promising clinical developments and financial stability. The company has reported a strong cash position of $606.9 million, which is expected to support operations until 2028, providing a solid financial foundation for future growth.
Additionally, the successful Phase 2b REZILIENT1 trial of zipalertinib, which met its primary endpoint, indicates potential for regulatory approval in the second half of 2025. With the planned submission for U.S. regulatory approval and the potential market launch in 2026, Cullinan is poised for significant revenue growth, with projected sales reaching $397 million. These factors contribute to White’s optimistic outlook and Buy rating for the stock.
Based on the recent corporate insider activity of 18 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.