Leerink Partners analyst Andrew Berens has maintained their bullish stance on CGEM stock, giving a Buy rating yesterday.
Andrew Berens has given his Buy rating due to a combination of factors that highlight Cullinan Management’s promising developments. The initiation of a Phase 1 trial for CLN-978 in rheumatoid arthritis (RA) marks a significant step forward, with trial sites in Germany and Italy. This trial aims to explore the safety and tolerability of CLN-978, which is designed for patients with difficult-to-treat RA who have not responded to other treatments. The innovative approach of CLN-978, with its smaller size and albumin binding domain, suggests potential for deeper tissue penetration and longer serum half-life, potentially leading to greater efficacy in RA treatment.
Beyond the RA program, Cullinan Management is advancing its oncology pipeline with upcoming data presentations for CLN-619 in endometrial and cervical cancers and pivotal trial results for zipalertinib in non-small cell lung cancer. These developments, coupled with plans to file a New Drug Application for zipalertinib, indicate a strong strategic direction for the company. The combination of these clinical advancements and strategic initiatives underpins Berens’s optimistic outlook and Buy rating for Cullinan Management’s stock.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $33.00 price target.
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.