Cullinan Therapeutics price target raised to $36 from $34 at Wedbush

Wedbush raised the firm’s price target on Cullinan Therapeutics (CGEM) to $36 from $34 and keeps an Outperform rating on the shares. The firm notes the company reported Q4 financials and updates across the pipeline following the recently completed rolling submission for zipalertinib in second line EGFR exon 20 insertion-mutated non-small cell lung cancer. Notably, data from the OUTRACE trial, investigating CLN-978 in rheumatoid arthritis and systemic lupus erythematosus, remains on track for Q2 2026. Wedbush expects these data to include single target dose escalation up to the 30 microgram level, safety, B cell depletion data, and early signs of clinical efficacy.