Compugen Ltd (CGEN)
NASDAQ:CGEN
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Compugen
(NASDAQ:CGEN)
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Rating:75Outperform
Price Target:
$3.00
▲(8.70% Upside)
Action:ReiteratedDate:04/14/26
The score is driven primarily by the 2025 financial turnaround (profitability and cash generation with low leverage) and a constructive earnings-call outlook (extended runway and validated partnerships). Technicals support the uptrend but are somewhat overextended, and valuation appears optically low but is tempered by the lumpy, partner-driven nature of earnings.
Positive Factors
Validated strategic partnerships
Large, validated collaborations materially de‑risk Compugen's discovery platform: AstraZeneca and Gilead bring funding, development scale and commercial channels, turning early discoveries into partner‑led clinical/registrational programs and creating multi‑year milestone and royalty upside independent of near‑term product sales.
Negative Factors
Revenue concentration and lumpiness
Dependence on large, discrete partner payments creates volatile top‑line and profit swings. Milestone timing and probability are binary, complicating forecasting, capital allocation and long‑term planning; sustainable operating revenue remains limited absent recurring commercial sales or steady licensing streams.
Read all positive and negative factors
Positive Factors
Negative Factors
Validated strategic partnerships
Large, validated collaborations materially de‑risk Compugen's discovery platform: AstraZeneca and Gilead bring funding, development scale and commercial channels, turning early discoveries into partner‑led clinical/registrational programs and creating multi‑year milestone and royalty upside independent of near‑term product sales.
Read all positive factors
Compugen (CGEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$243.95M
Dividend YieldN/A
Average Volume (3M)339.01K
Price to Earnings (P/E)4.0
Beta (1Y)1.44
Revenue Growth-88.47%
EPS Growth-1658.33%
CountryUS
Employees74
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.60
Shares Outstanding94,553,190
10 Day Avg. Volume324,319
30 Day Avg. Volume339,006
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)1.39
Price to Sales (P/S)1.96
P/FCF Ratio4.56
Enterprise Value/Market Cap0.76
Enterprise Value/Revenue2.54
Enterprise Value/Gross Profit2.91
Enterprise Value/Ebitda5.54
Forecast
1Y Price Target
$4.67Price Target Upside69.20% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.22
Revenue Forecast (FY)$14.56M
Compugen Business Overview & Revenue Model
Company Description
Compugen Ltd., a clinical-stage therapeutic discovery and development company, researches, develops, and commercializes therapeutic and product candidates in Israel, the United States, and Europe. The company's immuno-oncology pipeline consists of...
How the Company Makes Money
Compugen primarily makes money through (1) collaboration and licensing arrangements with larger pharmaceutical companies and (2) to a lesser extent, other operating income typical of early-stage biotech companies (e.g., grants or similar sources, ...
Compugen Earnings Call Summary
Earnings Call Date:Mar 02, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 18, 2026
Earnings Call Sentiment Positive
The call conveyed materially positive financial and operational developments: a meaningful non‑dilutive capital infusion ($65M) that extended the cash runway into 2029, a large year‑over‑year revenue and profitability swing driven by partner upfronts, validated partnerships with AstraZeneca and Gilead, and clinical progress for COM701 and GS‑0321 (trial initiations, conference presentations, and global site expansion). Offsetting these positives are risks and limitations: revenues are lumpy and dependent on partner milestones, a delay moved the COM701 interim analysis to Q1 2027 (though sites are now open), and program timing and data disclosure remain partly controlled by partners. Overall, highlights (cash runway, profitability, partnerships, clinical advancement) outweigh the lowlights (timing, revenue concentration, partner dependence), supporting a positive outlook but with continued execution and partner‑dependent milestones being key.Positive Updates
Extended Cash Runway and Strong Year‑End Cash Balance
Cash runway extended into 2029 (assuming no further cash inflows) via a non‑dilutive transaction with AstraZeneca. Year‑end cash, cash equivalents, short‑term deposits and marketable securities totaled approximately $145.6M, which includes the $65.0M upfront payment from AstraZeneca.
Negative Updates
Revenue Largely Lumpy and Deal‑Driven
2025 revenue growth was driven primarily by one‑time partner upfronts (AstraZeneca $65M upfront and Gilead payments). This produced a large, non‑recurring boost to profitability and cash, highlighting revenue concentration and ongoing dependence on partner milestones rather than recurring operating revenue.
Read all updates
Q4-2025 Updates
Positive
Negative
Extended Cash Runway and Strong Year‑End Cash Balance
Cash runway extended into 2029 (assuming no further cash inflows) via a non‑dilutive transaction with AstraZeneca. Year‑end cash, cash equivalents, short‑term deposits and marketable securities totaled approximately $145.6M, which includes the $65.0M upfront payment from AstraZeneca.
Read all positive updates
Company Guidance
Management guided that, assuming no further cash inflows, Compugen’s cash runway now extends into 2029 supported by a 12/31/2025 cash balance of approximately $145.6 million (which included a $65.0 million upfront non‑dilutive payment from AstraZeneca); near‑term development milestones include an interim analysis for the COM701 MAIA ovarian trial in Q1 2027 and the next AstraZeneca trigger of BLA acceptance (an additional $25.0 million), which increases total remaining AZ milestones to up to $195.0 million (from $170.0 million); Gilead’s collaboration has already contributed €60.0 million upfront plus $30.0 million on IND clearance and leaves Compugen eligible for up to $758.0 million in further milestones plus single‑digit to low‑double‑digit royalties, and together the AstraZeneca and Gilead partnerships represent roughly up to $1.0 billion in potential milestones plus royalties (AstraZeneca has ~10 active Phase III rilvegostomig trials and previously estimated non‑risk‑adjusted peak annual revenue > $5.0 billion); financial guidance/metrics cited on the call included revenues of ~$67.3 million for Q4 2025 and ~$72.8 million for FY2025 (vs ~$1.5M and $27.9M in the comparable 2024 periods), R&D expense of ~$5.5M/Q4 and ~$22.8M FY2025 (vs $5.9M and $24.8M), G&A of ~$2.1M/Q4 and ~$8.9M FY2025 (vs $2.2M and $9.4M), and net profit of ~$56.8M (~$0.60 per share) for Q4 and ~$35.3M (~$0.38 per share) for FY2025 (vs net losses of ~$6.1M and ~$14.2M in 2024); management reiterated plans to use the runway to advance COM701 (28 sites open across the U.S., France and Israel), continue GS‑0321 (first patient dosed January 2025) and invest in the early‑stage pipeline.Compugen Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 72.76M | 27.86M | 33.46M | 7.50M | 6.00M |
| Gross Profit | 63.51M | 19.93M | 31.45M | 6.53M | 5.32M |
| EBITDA | 31.80M | -14.40M | -12.52M | -33.13M | -34.61M |
| Net Income | 35.34M | -14.23M | -18.75M | -33.69M | -34.20M |
Balance Sheet | |||||
| Total Assets | 156.87M | 115.00M | 121.33M | 94.18M | 132.16M |
| Cash, Cash Equivalents and Short-Term Investments | 145.64M | 103.25M | 50.69M | 83.71M | 117.76M |
| Total Debt | 2.96M | 2.91M | 1.35M | 1.93M | 2.75M |
| Total Liabilities | 54.14M | 60.08M | 55.77M | 16.50M | 25.47M |
| Stockholders Equity | 102.73M | 54.91M | 65.56M | 77.68M | 106.69M |
Cash Flow | |||||
| Free Cash Flow | 31.33M | 49.49M | -36.06M | -34.99M | -23.04M |
| Operating Cash Flow | 31.63M | 49.60M | -35.89M | -34.51M | -22.75M |
| Investing Cash Flow | 30.00M | -46.25M | 35.51M | 37.06M | 6.62M |
| Financing Cash Flow | 10.60M | 554.00K | 3.08M | 353.00K | 16.84M |
Compugen Technical Analysis
Positive
2.76
Price Trends
2.02
Positive
1.86
Positive
1.72
Positive
Market Momentum
0.14
Negative
75.94
Negative
95.24
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CGEN, the sentiment is Positive. The current price of 2.76 is above the 20-day moving average (MA) of 2.22, above the 50-day MA of 2.02, and above the 200-day MA of 1.72, indicating a bullish trend. The MACD of 0.14 indicates Negative momentum. The RSI at 75.94 is Negative, neither overbought nor oversold. The STOCH value of 95.24 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CGEN.
Compugen Risk Analysis
Compugen disclosed 79 risk factors in its most recent earnings report. Compugen reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Compugen Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $243.95M | 4.04 | 55.68% | ― | -88.47% | -1658.33% | |
54 Neutral | $247.36M | ― | -53.83% | ― | -10.57% | 1.98% | |
52 Neutral | $217.76M | -6.23 | -131.80% | ― | ― | -16.26% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $495.22M | -7.52 | -65.03% | ― | -84.46% | 33.32% | |
50 Neutral | $186.72M | -3.95 | -977.67% | ― | ― | 17.36% | |
44 Neutral | $154.70M | -1.32 | -30.02% | ― | ― | 25.84% |
* Healthcare Sector Average
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Compugen Corporate Events
Compugen Extends Cash Runway to 2029 and Swings to Profit on AstraZeneca Deal and Clinical Progress
Mar 2, 2026
Compugen on March 2, 2026, reported fourth-quarter and full-year 2025 results that showcased a dramatically strengthened balance sheet and extended cash runway into 2029, driven primarily by a $65 million non-dilutive royalty monetization deal wit...
Compugen Adds Veteran Healthcare Strategist Michele Holcomb to Board of Directors
Feb 12, 2026
On February 11, 2026, Compugen appointed healthcare strategist Michele Holcomb, Ph.D., as an independent director to its board, a move disclosed in a February 12, 2026 filing and press release. Her term will run until after the 2026 annual general...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.