Cullinan Management, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Julian Harrison from BTIG reiterated a Buy rating on the stock and has a $32.00 price target.
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Julian Harrison’s rating is based on several promising developments surrounding Cullinan Management’s pipeline, particularly their co-development of zipalertinib with Taiho. The initiation of a rolling NDA submission for zipalertinib, supported by positive REZILIENT1 trial data, demonstrates significant potential for accelerated approval in treating relapsed EGFR ex20ins NSCLC. The drug’s Breakthrough Therapy Designation and the request for priority review further highlight its promising prospects.
Additionally, Cullinan’s strategic 50/50 profit-sharing agreement with Taiho positions them to benefit materially from zipalertinib’s success. The recent withdrawal of a competing drug by Takeda opens a market opportunity for zipalertinib to capture share in the relapsed setting. Furthermore, Cullinan’s potential to address unmet needs in SLE and RA with CLN-978 adds to the company’s growth prospects, supporting the Buy rating.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $26.00 price target.
CGEM’s price has also changed moderately for the past six months – from $7.900 to $8.720, which is a 10.38% increase.