Morgan Stanley analyst Sean Laaman has maintained their bullish stance on CGEM stock, giving a Buy rating yesterday.
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Sean Laaman has given his Buy rating due to a combination of factors related to the promising data from Cullinan Management’s ongoing clinical trials. The preliminary results from the Phase 2b REZILIENT2 study show that zipalertinib, a treatment for patients with CNS metastases and uncommon mutations, has demonstrated significant efficacy. Specifically, the treatment achieved an intracranial objective response rate (ORR) of 31.3% and a disease control rate (DCR) of 68.8%, with a median duration of response (mDOR) of 8.1 months.
Additionally, the safety profile of zipalertinib is encouraging, with the drug being well-tolerated among patients. The potential for regulatory approval by the end of the year, combined with the expected financial benefits from the partnership with Taiho, further supports the positive outlook. The projected sales and revenue figures, alongside the drug’s ability to address a broader patient population, contribute to the optimistic assessment of Cullinan Management’s stock.
In another report released yesterday, JonesTrading also maintained a Buy rating on the stock with a $34.00 price target.