Cullinan Management (CGEM – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Sean Laaman from Morgan Stanley reiterated a Buy rating on the stock and has a $35.00 price target.
Sean Laaman has given his Buy rating due to a combination of factors, primarily focusing on Cullinan Therapeutics’ promising pipeline and upcoming catalysts. The company is advancing in the fields of autoimmune diseases and oncology, with several key drug candidates showing potential. Notably, CLN-978 has demonstrated encouraging preclinical and in vitro data, and external studies support its mechanism of action, providing confidence ahead of the initial clinical data expected in late 2025.
Furthermore, the pivotal Phase 2b study for zipalertinib has met its primary endpoint, with regulatory filing anticipated in the second half of 2025. Additionally, the initial data for CLN-619 in specific cancer cohorts is expected in the second quarter of 2025. These developments, along with the projected sales for zipalertinib and CLN-619, underscore the potential upside for Cullinan’s stock, justifying the Buy rating.
According to TipRanks, Laaman is a 4-star analyst with an average return of 3.8% and a 58.62% success rate. Laaman covers the Healthcare sector, focusing on stocks such as Halozyme, Exelixis, and ACADIA Pharmaceuticals.
In another report released on February 28, Stifel Nicolaus also maintained a Buy rating on the stock with a $30.00 price target.