Optimistic Buy Rating for Cullinan Management Driven by Promising Drug Pipeline and Upcoming Catalysts

Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on Cullinan Management, boosting the price target to $26.00.

Robert Burns has given his Buy rating due to a combination of factors including the promising progress of Cullinan Management’s drug development pipeline. The company, in collaboration with Taiho Oncology, has initiated a rolling submission for a New Drug Application (NDA) for zipalertinib, targeting a specific mutation in non-small cell lung cancer. This submission is backed by encouraging results from the REZILIENT1 trial, which demonstrated notable response rates in patients with prior treatments.
Furthermore, Burns highlights upcoming catalysts that could positively impact Cullinan’s valuation, such as the presentation of Phase 1 results for CLN-049 and the completion of the NDA for zipalertinib. The financial assessment using a discounted cash flow model, along with a high probability of approval for zipalertinib, supports the increased price target of $26 per share. Despite potential risks like trial enrollment delays or competitive pressures, the overall outlook remains optimistic, justifying the Buy recommendation.

In another report released on November 11, JonesTrading also maintained a Buy rating on the stock with a $34.00 price target.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CGEM in relation to earlier this year.