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Compugen Ltd (CGEN)
NASDAQ:CGEN
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Compugen
(NASDAQ:CGEN)
Rating:51Neutral
Price Target:
$1.50
▲( 3.45% Upside)
Positive Factors
Clinical Trials
AZN continues to aggressively initiate Ph 3 studies with rilvegostomig, increasing the probability that Compugen will receive royalties from this program.
Royalties and Milestones
Potential single-digit royalties and milestones from AZN’s Fc-silent TIGIT x PD-1 bispecific rilvegostomig supports a positive long-term valuation for Compugen.
Negative Factors
Pharmaceutical Trials
Significant CGEN upside or downside is tied to Arcus and Gilead’s earlier Ph 3 trials of their Fc-silent TIGIT in gastric and lung cancers.
Compugen (CGEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$135.59M
Dividend YieldN/A
Average Volume (3M)204.34K
Price to Earnings (P/E)87.5
Beta (1Y)1.80
Revenue Growth-23.40%
EPS Growth17.80%
CountryUS
Employees74
SectorHealthcare
Sector Strength41
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.08
Shares Outstanding93,512,985
10 Day Avg. Volume232,439
30 Day Avg. Volume204,343
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)2.49
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$7.00Price Target Upside382.76% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
Compugen Business Overview & Revenue Model
Company DescriptionCompugen 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 COM701, an anti-PVRIG antibody that is in Phase I clinical study used for the treatment of solid tumors; COM902, a therapeutic antibody targeting TIGIT, which is in Phase I clinical study in patients with advanced malignancies as a monotherapy; Bapotulimab, a therapeutic antibody targeting ILDR2 that is in Phase I clinical study in patients with solid tumors; and AZD2936, a novel anti-TIGIT/PD-1 bispecific antibody, which is in Phase I/II clinical study in patients with advanced or metastatic non-small cell lung cancer. Its therapeutic pipeline also includes early-stage immuno-oncology programs focused primarily on myeloid targets. The company has collaboration agreement with Bayer Pharma AG for the research, development, and commercialization of antibody-based therapeutics against the company's immune checkpoint regulators; Bristol-Myers Squibb to evaluate the safety and tolerability of COM701 in combination with Bristol-Myers Squibb's PD-1 immune checkpoint inhibitor Opdivo in patients with advanced solid tumors; and Johns Hopkins School of Medicine to evaluate novel T cell and myeloid checkpoint targets. It has license agreement with AstraZeneca for the development of bi-specific and multi-specific immuno-oncology antibody products; and research collaboration with Johns Hopkins University for myeloid. Compugen Ltd. was incorporated in 1993 and is headquartered in Holon, Israel.
How the Company Makes MoneyCompugen makes money through a combination of strategic partnerships, collaborations, and licensing agreements with pharmaceutical and biotechnology companies. These partnerships often involve upfront payments, milestone payments based on the progress of drug development, and royalties from sales of successfully commercialized therapies. Additionally, the company may receive research and development funding from its partners to advance its drug candidates through various stages of clinical trials. Compugen's revenue model relies heavily on the success of its drug discovery platform in identifying viable immuno-oncology targets and the subsequent commercialization of these discoveries.
Compugen Financial Statement Overview
Summary
Compugen's financial performance reflects the challenges typical in the biotechnology sector, with fluctuating revenues, consistent profitability issues, and improved cash flow management. While cash flow shows improvement, ongoing net losses and financial volatility suggest caution.Income Statement
Compugen has shown fluctuating revenue growth, with a positive increase from 2021 to 2023 but a decline in 2024. The consistent negative net income and EBIT margins reflect ongoing challenges in profitability, typical in the biotechnology sector. Despite improvements in gross profit, the company's net profit margins remain negative, indicating operational inefficiencies.50
Neutral
Balance Sheet
The balance sheet reveals a stable equity position but high volatility in debt levels. The debt-to-equity ratio remains low, suggesting manageable leverage. However, the declining equity ratio and fluctuations in stockholders' equity indicate potential risks in maintaining financial stability.55
Neutral
Cash Flow
Cash flow analysis shows significant improvement in operating cash flow and free cash flow by 2024, highlighting better cash management. However, the company experienced negative free cash flow in previous years, raising concerns about long-term cash sustainability. The positive cash flow trend in 2024 is a promising sign of recovery.60
Neutral
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 7.50M | 27.86M | 33.46M | 7.50M | 6.00M | 2.00M | Gross Profit |
| 6.53M | 19.93M | 31.45M | 6.53M | 5.32M | 1.94M | EBIT |
| -34.51M | -14.89M | -12.99M | -35.37M | -35.07M | -31.50M | EBITDA |
| -34.01M | -14.40M | -12.52M | -35.37M | -34.61M | -31.50M | Net Income Common Stockholders |
| -31.56M | -14.23M | -18.75M | -33.69M | -32.87M | -27.26M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 21.82M | 103.25M | 50.69M | 83.71M | 117.76M | 124.43M | Total Assets |
| 36.46M | 115.00M | 121.33M | 94.18M | 132.16M | 138.32M | Total Debt |
| 0.00 | 2.91M | 1.35M | 1.93M | 2.75M | 3.17M | Net Debt |
| -7.30M | -15.32M | -12.54M | -9.13M | -5.05M | -3.98M | Total Liabilities |
| 8.17M | 60.08M | 55.77M | 16.50M | 25.47M | 18.53M | Stockholders Equity |
| 28.29M | 54.91M | 65.56M | 77.68M | 106.69M | 119.78M |
| Cash Flow | Free Cash Flow | ||||
| -23.38M | 49.49M | -36.06M | -34.99M | -23.04M | -28.49M | Operating Cash Flow |
| -23.03M | 49.60M | -35.89M | -34.51M | -22.75M | -28.32M | Investing Cash Flow |
| 40.39M | -46.25M | 35.51M | 37.06M | 6.62M | -82.17M | Financing Cash Flow |
| -18.41M | 554.00K | 3.08M | 353.00K | 16.84M | 108.46M |
Compugen Technical Analysis
Neutral
1.45
Price Trends
1.42
Positive
1.73
Negative
1.72
Negative
Market Momentum
>-0.01
Negative
53.75
Neutral
88.45
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CGEN, the sentiment is Neutral. The current price of 1.45 is above the 20-day moving average (MA) of 1.39, above the 50-day MA of 1.42, and below the 200-day MA of 1.72, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 53.75 is Neutral, neither overbought nor oversold. The STOCH value of 88.45 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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
Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | $123.62M | ― | -24.73% | ― | -1.02% | -8.59% | |
55 Neutral | $241.00M | ― | 123.38% | ― | 10.49% | 47.31% | |
53 Neutral | $5.14B | 3.03 | -44.09% | 2.83% | 16.75% | -0.06% | |
52 Neutral | $546.26M | ― | -53.82% | ― | ― | 44.85% | |
51 Neutral | $135.59M | 87.50 | -24.22% | ― | -23.40% | 17.80% | |
49 Neutral | $175.70M | ― | -52.64% | ― | 82.38% | 3.63% | |
49 Neutral | $238.99M | ― | -99.23% | ― | -40.10% | -16.60% |
* Healthcare Sector Average
Performance Comparison
CGEN
Compugen
1.45
-1.07
-42.46%
RGLS
Regulus
7.89
5.85
286.76%
PRQR
ProQR
1.67
-0.17
-9.24%
ADCT
ADC Therapeutics
2.43
-1.14
-31.93%
SLN
Silence Therapeutics
5.06
-17.03
-77.09%
SEER
Seer
2.10
0.22
11.70%
Compugen Earnings Call Summary
Earnings Call Date:May 19, 2025
(Q1-2025)
| % Change Since: 4.32%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Positive
The earnings call reflected a strategic shift in leadership, strong financial health, and promising clinical advancements, particularly with AstraZeneca. However, revenue decline and challenges in the TIGIT space were noted.Q1-2025 Updates
Positive Updates
Leadership Transition and Strategic Vision
Anat Cohen-Dayag announced her transition to Executive Chair, with Eran Ophir taking over as CEO. This change aims to build on a robust foundation and ensure growth, with a cash runway secured until 2027.
Advancements in Clinical Trials
Initiation of a sub-trial for COM701 in ovarian cancer, targeting an unmet medical need. This is part of a broader strategy to advance immuno-oncology pipeline.
Strategic Collaborations with AstraZeneca
AstraZeneca's initiation of multiple Phase 3 trials using the TIGIT component derived from COM902, with potential for substantial commercial opportunity and future milestone payments and royalties for Compugen.
Solid Financial Position
Compugen reported a strong balance sheet with approximately $103.7 million in cash and no debt, supporting operations into 2027.
Negative Updates
Revenue Decline
Revenues for Q1 2025 were $2.3 million, down from $2.6 million in Q1 2024, due to recognition of payments from Gilead's licensing agreement.
TIGIT Clinical Trial Challenges
Despite interest, the TIGIT space faced multiple Phase 3 trial failures, raising questions about the efficacy of TIGIT antibodies and market sentiment.
Company Guidance
During Compugen's First Quarter 2025 Results Conference Call, key guidance was provided regarding the company's future plans and ongoing projects. The company is focusing on advancing its clinical immuno-oncology pipeline, particularly the anti-PVRIG antibody COM701, with a sub-trial in ovarian cancer expected to share interim analysis in the second half of 2026. There is a noted emphasis on achieving a three-month improvement in progression-free survival over placebo. Compugen also highlighted the potential commercial opportunity with AstraZeneca's rilvegostomig, targeting over $5 billion in peak year revenues. Financially, Compugen reported a cash balance of $103.7 million as of March 31, 2025, and a net loss of $7.2 million for the quarter, maintaining a cash runway into 2027. The call underscored the company's strategic plans to capitalize on its innovative pipeline in the coming years.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.