Analyst Edward White of H.C. Wainwright reiterated a Buy rating on Cullinan Management (CGEM – Research Report), retaining the price target of $33.00.
Edward White’s rating is based on several promising developments and projections for Cullinan Management. The recent approval of the Clinical Trial Application by the EMA for CLN-978, a novel treatment for rheumatoid arthritis, positions the company as a potential leader in autoimmune disease therapies. This drug, which is expected to launch in 2030, is projected to generate significant sales, reaching $258 million by 2031, indicating strong market potential.
Additionally, Cullinan’s ongoing global Phase 1 study of CLN-978 in systemic lupus erythematosus (SLE) further supports the company’s innovative pipeline. The study aims to address a significant unmet need in SLE treatment by focusing on safety and tolerability, with initial data anticipated in late 2025. These factors, combined with Cullinan’s strategic revenue forecasts and competitive positioning, underpin White’s Buy rating and the $33 price target, despite inherent risks such as regulatory and commercial challenges.
White covers the Healthcare sector, focusing on stocks such as Valneva, Chimerix, and InflaRx. According to TipRanks, White has an average return of -5.8% and a 32.53% success rate on recommended stocks.