JonesTrading analyst Soumit Roy maintained a Buy rating on Cullinan Management today and set a price target of $34.00.
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Soumit Roy’s rating is based on several promising developments in Cullinan Management’s pipeline. One key factor is the anticipated initial Phase 1 data for their CD19 targeting TCE (CLN-978) in systemic lupus erythematosus (SLE) expected in the fourth quarter of 2025. This trial is significant as it explores the safety and efficacy of the treatment, with a focus on moderate to severe SLE patients. The potential for positive outcomes from these trials could enhance the company’s position in the autoimmune disease market.
Another factor contributing to the Buy rating is the progress in Cullinan’s EGFR ex20ins NSCLC program. The company, in collaboration with Taiho, is preparing for a potential NDA filing by the end of 2025 for zipalertinib in relapsed non-small cell lung cancer. This development could lead to significant financial milestones, as Cullinan is eligible to receive up to $130 million in payments for U.S. regulatory achievements. These strategic advancements in their clinical programs underpin the optimistic outlook for Cullinan Management’s stock.
According to TipRanks, Roy is an analyst with an average return of -23.6% and a 19.52% success rate. Roy covers the Healthcare sector, focusing on stocks such as Enliven Therapeutics, Nuvation Bio, and Cullinan Management.
In another report released today, Clear Street also reiterated a Buy rating on the stock with a $22.00 price target.