Compugen (CGEN)
NASDAQ:CGEN
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Compugen
(NASDAQ:CGEN)
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Rating:73Outperform
Price Target:
$3.00
▲(6.38% Upside)
Action:Reiterated
Date:05/19/26
The score is driven primarily by improved financial performance and balance-sheet strength, alongside supportive technical trend signals. Earnings-call updates reinforce strategic/clinical progress and a solid cash runway, but valuation is constrained by ongoing losses (negative P/E) and results remain dependent on milestones and clinical execution.
Positive Factors
Strong cash runway
A multi-year cash runway into 2029 gives management latitude to fund COM701 MAIA enrollment, continue discovery work, and avoid near-term dilution. This durable funding buffer supports progress toward event-driven inflection points and steadies strategic execution over the next 2–3 years.
Negative Factors
Revenue concentration and milestone dependence
A very small recurring revenue base makes financial results lumpy and highly dependent on partner-triggered milestones. This structural reliance creates cashflow volatility and makes capital availability and strategic planning contingent on timing of external events rather than predictable product sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash runway
A multi-year cash runway into 2029 gives management latitude to fund COM701 MAIA enrollment, continue discovery work, and avoid near-term dilution. This durable funding buffer supports progress toward event-driven inflection points and steadies strategic execution over the next 2–3 years.
Read all positive factors
Compugen (CGEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$264.75M
Dividend YieldN/A
Average Volume (3M)598.73K
Price to Earnings (P/E)―
Beta (1Y)1.41
Revenue Growth163.35%
EPS GrowthN/A
CountryUS
Employees74
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.37
Shares Outstanding94,553,190
10 Day Avg. Volume655,429
30 Day Avg. Volume598,725
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 Cap0.96
Enterprise Value/Revenue3.51
Enterprise Value/Gross Profit4.02
Enterprise Value/Ebitda7.65
Forecast
1Y Price Target
$4.75Price Target Upside68.44% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.27
Revenue Forecast (FY)$11.22M
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:May 18, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call emphasized meaningful clinical and strategic progress: initiation and active enrollment of the MAIA-ovarian trial for COM701 with an interim PFS readout expected in Q1 2027, advancing partnered programs (AstraZeneca's rilvegostomig and Gilead's GS-0321) with substantial potential milestones, continued discovery momentum from the Unigen platform, and a solid cash position (~$134.9M) providing runway into 2029. Offsetting these positives were modest near-term financials (Q1 revenue down ~4.4% to $2.2M), higher R&D spending (+~19%) and a slightly larger net loss (+~6.9%), plus dependence on partner milestones and uncertainty around trial outcomes and enrollment details. On balance, the call portrays a company making strategic clinical and partnership advances while investing into development, with manageable but notable near-term financial and execution risks.Positive Updates
MAIA-ovarian Trial Initiation and Active Enrollment
COM701 randomized MAIA-ovarian adaptive platform trial launched and all sites open and enrolling across the U.S., Israel and France; interim analysis for median PFS expected by Q1 2027, supporting a potential registration path and combination backbone in relapsed platinum-sensitive ovarian cancer.
Negative Updates
Slight Revenue Decline
Total revenue for Q1 2026 was approximately $2.2M versus $2.3M in Q1 2025, a decline of about 4.35%, reflecting recognition timing of upfront and IND milestone payments from the Gilead license agreement.
Read all updates
Q1-2026 Updates
Positive
Negative
MAIA-ovarian Trial Initiation and Active Enrollment
COM701 randomized MAIA-ovarian adaptive platform trial launched and all sites open and enrolling across the U.S., Israel and France; interim analysis for median PFS expected by Q1 2027, supporting a potential registration path and combination backbone in relapsed platinum-sensitive ovarian cancer.
Read all positive updates
Company Guidance
On the Q1 2026 call management reiterated financial and development guidance: cash and short‑term investments were approximately $134.9M as of March 31, 2026 with a cash runway expected into 2029 assuming no further inflows (including $65M received in Dec 2025 from AstraZeneca and $90M received to date from Gilead); Q1 revenues were ~$2.2M (vs ~$2.3M a year ago), R&D spend was ~$6.9M (vs $5.8M), G&A was ~$2.3M (vs $2.4M), and net loss was ~$7.7M or $0.08 per share (vs ~$7.2M/$0.08); clinical guidance included MAIA‑ovarian enrollment across U.S., Israel and France with a planned interim analysis for median PFS by Q1 2027 (trial stratified by 2nd vs 3rd line, not PD‑L1), a control‑arm PFS benchmark of ~5.5 months (range 3.8–5.8) with a hoped‑for ≥3‑month improvement, GS‑0321 (COM503) dose‑escalation progressing, and partner Rilve advancing in 11 Phase III trials (AZ’s non‑risk‑adjusted peak revenue >$5B); milestone economics noted: up to $195M plus mid‑single‑digit royalties from AZ and up to $758M plus double‑digit royalties from Gilead.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
2.82
Price Trends
2.56
Positive
2.22
Positive
1.90
Positive
Market Momentum
0.04
Positive
52.85
Neutral
31.03
Neutral
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 2.82 is above the 20-day moving average (MA) of 2.78, above the 50-day MA of 2.56, and above the 200-day MA of 1.90, indicating a bullish trend. The MACD of 0.04 indicates Positive momentum. The RSI at 52.85 is Neutral, neither overbought nor oversold. The STOCH value of 31.03 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $264.75M | -6.57 | 47.72% | ― | 163.35% | ― | |
54 Neutral | $216.78M | -1.41 | -30.90% | ― | ― | 10.70% | |
54 Neutral | $393.62M | -3.30 | -50.68% | ― | -12.37% | 19.59% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $467.75M | -12.22 | -60.73% | ― | -78.29% | 54.16% | |
49 Neutral | $274.54M | -7.48 | -147.78% | ― | ― | -16.88% | |
46 Neutral | $189.91M | -4.12 | -2748.16% | ― | ― | 43.68% |
* Healthcare Sector Average
CGEN
Compugen
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Compugen Corporate Events
Compugen Posts Q1 2026 Results, Cites Strong Cash Runway and Pipeline Advances
May 18, 2026
On May 18, 2026, Compugen reported first-quarter 2026 results, highlighting continued execution across its cancer immunotherapy pipeline and progress in key collaborations. The company’s blinded randomized MAIA-ovarian maintenance trial of C...
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...
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.