Analyst Julian Harrison from BTIG maintained a Buy rating on Cullinan Management and keeping the price target at $32.00.
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Julian Harrison has given his Buy rating due to a combination of factors surrounding Cullinan Management’s promising developments with zipalertinib. The recent data from the Phase 2b REZILIENT2 Cohort C trial demonstrated significant benefits of zipalertinib in treating EGFR NSCLC patients with CNS involvement, a challenging group to treat. The drug showed a notable intracranial objective response rate and disease control rate, highlighting its potential effectiveness in reducing CNS lesions, which is a critical differentiator from other treatments like amivantamab.
Furthermore, the inclusion of patients with both ex20ins and other uncommon mutations in the trial results strengthens zipalertinib’s use case across a broader spectrum of EGFR NSCLC subsets. The ongoing and future trials, including the anticipated NDA submission and the REZILIENT3 study, are expected to further support the drug’s early initiation and broaden its application. The well-tolerated safety profile of zipalertinib, along with its promising efficacy data, underpins the positive outlook and justifies the Buy rating.
In another report released yesterday, Wedbush also reiterated a Buy rating on the stock with a $23.00 price target.