Cullinan Management, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Soumit Roy from JonesTrading maintained a Buy rating on the stock and has a $34.00 price target.
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Soumit Roy has given his Buy rating due to a combination of factors that highlight the potential of Cullinan Management’s therapeutic developments. The recent announcement of positive data from Cullinan and Taiho regarding zipalertinib, an EGFR inhibitor, in patients with EGFR mutated NSCLC and active brain metastases is a significant milestone. The data showed an intracranial objective response rate of 31%, which is particularly noteworthy given the challenges in treating brain metastases in these patients.
Furthermore, the management’s argument that zipalertinib can penetrate the central nervous system in patients with compromised blood-brain barriers due to previous treatments adds to the drug’s potential efficacy. The anticipation of an NDA filing for zipalertinib in the second-line setting by the second half of 2025, along with its ongoing Phase 3 trial for first-line patients, underscores the drug’s promising future. These developments, combined with the high market potential for brain-penetrating drugs, support the Buy rating for Cullinan Management’s stock.
In another report released today, Wedbush also reiterated a Buy rating on the stock with a $23.00 price target.
Based on the recent corporate insider activity of 12 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.