Clear Street raised the firm’s price target on Cullinan Therapeutics (CGEM) to $33 from $22 and keeps a Buy rating on the shares after the company announced updated data from the Phase 1 study of CLN-049. CLN-049’s clinical data appear superior to most CD3 bispecifics, which reinforces its “differentiated biology and therapeutic potential,” the analyst tells investors in a research note. Clear Street introduced an acute myeloid leukemia market model for CLN-049 with a 2028 launch and project risk-adjusted peak sales of $500M in 2040.
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Read More on CGEM:
- Cullinan Therapeutics price target raised to $34 from $25 at Wedbush
- Buy Rating for Cullinan Management Driven by Promising CLN-049 Clinical Data and Strategic Development Plan
- Promising Outlook for Cullinan Management: Buy Rating Backed by Strong Therapeutic Developments and Financial Position
- Optimistic Buy Rating for Cullinan Management Driven by Promising CLN-049 Therapy Results
- Cullinan Therapeutics Presents Promising CLN-049 Data