William Blair analyst Matt Phipps has maintained their bullish stance on CGEM stock, giving a Buy rating on November 3.
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Matt Phipps has given his Buy rating due to a combination of factors, primarily focusing on Cullinan Management’s promising pipeline and recent developments. The company has shown encouraging initial results for its CLN-049 treatment in patients with relapsed/refractory acute myeloid leukemia and myelodysplastic syndrome, with a composite complete response rate of 30% at target doses, which bolsters confidence in its development program.
Additionally, Cullinan’s management is on track with its timelines and is expected to present further data, including longer follow-up results, at the upcoming ASH Annual Meeting. The company’s strategic focus on advancing its CLN-978 program for systemic lupus erythematosus and rheumatoid arthritis, along with its commitment to investor engagement, further supports the positive outlook and the Buy rating.
In another report released on November 3, JonesTrading also maintained a Buy rating on the stock with a $34.00 price target.