Cullinan Management (CGEM) has received a new Buy rating, initiated by H.C. Wainwright analyst, Robert Burns.
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Robert Burns has given his Buy rating due to a combination of factors surrounding Cullinan Management’s promising developments in their cancer treatment pipeline. The company, in collaboration with Taiho Pharmaceutical, is set to present updated efficacy and safety data for their drug zipalertinib at the upcoming World Conference on Lung Cancer. This drug is being tested in patients with non-small cell lung cancer who have specific genetic mutations and have undergone prior treatments. The previous trial results showed promising outcomes, including a notable objective response rate and progression-free survival, which positions the drug favorably in the competitive landscape.
Furthermore, Cullinan’s strategic plans to seek regulatory approval in the U.S. by the end of the year, coupled with the potential to receive significant regulatory milestone payments, bolster the company’s growth prospects. Despite the competitive environment with other companies developing similar treatments, Cullinan’s partnership with Taiho and the option to co-commercialize zipalertinib in the U.S. provide a strong foundation for future success. These factors collectively contribute to Robert Burns’s positive outlook and Buy rating for Cullinan Management’s stock.
In another report released on August 18, Morgan Stanley also maintained a Buy rating on the stock with a $28.00 price target.