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Cullinan Therapeutics

CGEM · NASDAQ

$14.83+$0.85 (+6.08%)TodayMarket closed ·
Prev close $13.98

CGEM analyst rating

BuyConsensus of 5 analysts over the last 12 months. 100% rate it a buy.
  • Strong buy0
  • Buy5
  • Hold0
  • Underperform0
  • Sell0

12-month price target · 14 analysts

Average $37.82 (+155.1% upside)

Low
$27.27
Now
$14.83
High
$55.65

Upgrades and downgrades

The latest rating actions, newest first

CGEM analyst upgrades, downgrades and rating actions
FirmDateActionRating
BTIGOct 19, 2026MaintainsBuy
HC Wainwright & Co.Oct 2, 2026MaintainsBuy
HC Wainwright & Co.Sep 25, 2026MaintainsBuy
BTIGSep 25, 2026MaintainsBuy
BTIGSep 14, 2026MaintainsBuy
HC Wainwright & Co.Aug 17, 2026MaintainsBuy
WedbushAug 13, 2026MaintainsOutperform
BTIGJul 29, 2026MaintainsBuy
WedbushJun 11, 2026MaintainsOutperform
HC Wainwright & Co.Jun 8, 2026MaintainsBuy

The case for and against

Updated Oct 14, 2026

Bull case

Cullinan Therapeutics is viewed positively because zipalertinib has strong clinical momentum, with REZILIENT3 showing a 50% progression-risk reduction, 65% ORR, 14.5-month mPFS, and a 14.2-month mDOR versus chemotherapy alone, while a rolling NDA under the FDA’s RTOR pathway is already underway with completion expected by YE26. The company also has multiple near-term catalysts in 2026-2027 across CLN-978, CLN-049, and velinotamig, and its autoimmune TCE data suggest potentially differentiated efficacy with durable remissions and a broad, high-value opportunity in large markets like RA and SLE. Financially, the stock appears supported by meaningful downside protection from up to $130M in cumulative Taiho milestones plus a $100M milestone for 1L zipalertinib approval and a $30M milestone tied to the February 27, 2027 PDUFA date.

Bear case

Cullinan Therapeutics is burdened by a pipeline that still relies on clinical proof rather than durable commercialization, leaving valuation exposed to binary readouts and regulatory risk. The excerpts highlight meaningful uncertainty around zipalertinib’s competitive position because superior subgroup performance from rivals in 1L EGFR Ex20Ins+ NSCLC and concerns about underrepresentation of baseline brain metastases could weaken approval prospects. While CLN-049 and CLN-978 show encouraging biologic activity, the company still faces dilution risk, dependence on advancing multiple programs, and no near-term revenue offset against development setbacks.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.