William Blair analyst Matt Phipps has maintained their bullish stance on CGEM stock, giving a Buy rating on December 2.
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Matt Phipps has given his Buy rating due to a combination of factors including the promising data presented by Cullinan Management for their CLN-049 therapy in treating relapsed/refractory acute myeloid leukemia (AML). The Phase I study results demonstrated complete response rates that align with historical benchmarks for similar therapies, alongside a favorable safety profile that suggests potential for use in combination treatments.
Additionally, the data revealed encouraging signals of durability, with one patient maintaining a complete response for over 36 weeks. The positive market reaction, with Cullinan’s shares rising significantly, reflects investor confidence in the strong efficacy and safety profile of CLN-049. These factors contribute to the optimistic outlook for Cullinan Management’s stock, supporting the Buy rating.
In another report released on December 2, BTIG also maintained a Buy rating on the stock with a $38.00 price target.