Leerink Partners analyst Andrew Berens has maintained their bullish stance on CGEM stock, giving a Buy rating on September 4.
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Andrew Berens has given his Buy rating due to a combination of factors related to Cullinan Management’s strategic adjustments and ongoing developments. The company has revised its protocol for the CLN-978 study in systemic lupus erythematosus (SLE) to address slower enrollment by broadening eligibility criteria, which is expected to facilitate faster recruitment. This change is not due to any negative clinical findings, and initial safety data is still anticipated in the first half of 2026.
Furthermore, Berens acknowledges the high levels of enthusiasm from investigators and support from patient advocacy groups, which are positive indicators for the study’s progress. Despite the delay in data release, Berens remains optimistic about the potential of CLN-978, especially considering the ongoing studies in rheumatoid arthritis and Sjogren’s disease. These strategic moves and the continued development of their pipeline support the Buy rating, as they suggest a promising outlook for Cullinan Management’s future performance.
Berens covers the Healthcare sector, focusing on stocks such as AstraZeneca, Celcuity, and Cogent Biosciences. According to TipRanks, Berens has an average return of 6.3% and a 45.10% success rate on recommended stocks.
In another report released on September 4, BTIG also reiterated a Buy rating on the stock with a $32.00 price target.