Cullinan Therapeutics price target raised to $30 from $27 at H.C. Wainwright

H.C. Wainwright analyst Robert Burns raised the firm’s price target on Cullinan Therapeutics (CGEM) to $30 from $27 and keeps a Buy rating on the shares after the FDA accepted the application for zipalertinib for the treatment of patients with locally advanced or metastatic non-small cell lung cancer with epidermal growth factor receptor exon 20 insertion mutations whose disease has progressed on or after platinum-based chemotherapy, with or without amivantamab. The firm sees a “relatively uneventful” FDA approval process for zipalertinib. H.C. Wainwright upped its probability of success to 95% from 90%.