Cullinan Management (CGEM – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on February 27. Analyst Andrew Berens from Leerink Partners maintained a Buy rating on the stock and has a $29.00 price target.
Andrew Berens has given his Buy rating due to a combination of factors that highlight Cullinan Management’s promising pipeline and financial stability. The company is on track with its clinical trials, particularly with the CLN-619 expansion data expected in the second quarter of 2025, which includes promising monotherapy responses in endometrial cancer and stable disease in cervical cancer patients. Additionally, Cullinan is advancing its CLN-978 program with a Phase 1 study in rheumatoid arthritis set to begin in the second quarter of 2025, and initial clinical data for systemic lupus erythematosus expected by the end of 2025.
Furthermore, the company plans to present full results from the pivotal REZILIENT1 trial for zipalertinib in non-small cell lung cancer at a medical meeting in mid-2025, following the trial’s success in meeting its primary endpoint. Financially, Cullinan Management is robust, with $606.9 million in cash and cash equivalents, providing a financial runway into 2028. These factors collectively support the optimistic outlook and justify the Buy rating.
In another report released on February 28, Stifel Nicolaus also maintained a Buy rating on the stock with a $30.00 price target.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CGEM in relation to earlier this year.