CGEM Soars 36.5% on Analyst Upgrades Riding Bullish Ratings and Target Hikes

Cullinan Therapeutics (CGEM) surged 36.5364% in pre-market trading on November 25, 2025, signaling renewed investor optimism following a series of analyst upgrades and bullish ratings.

BTIG analyst Julian Harrison reinforced confidence in the stock by raising its price target to $38.00 from $32.00, an 18.75% increase, while maintaining a “Buy” rating. This follows a broader trend of positive analyst activity, including HC Wainwright & Co. and Stifel, both of which have reiterated or elevated their price targets in recent months. Despite a 20% downgrade from Morgan Stanley earlier in August, the cumulative effect of multiple “Buy” ratings has solidified CGEM’s position as a high-conviction growth opportunity in the biopharma sector.

The stock’s sharp pre-market move aligns with analysts’ consensus view that Cullinan’s pipeline of oncology and autoimmune disease therapies offers transformative potential. With a 12-month average price target of $26.00—implying over 100% upside from current levels—investors appear to be pricing in favorable clinical outcomes or partnership milestones.

Historical analyst actions highlight a strategic shift in sentiment. From June to November 2025, price targets have trended upward across independent firms, reflecting improved risk-rebalance assessments. The absence of bearish ratings since August 2025 further suggests a narrowing of valuation debates among market participants.

Backtesting assumptions suggest a momentum-driven strategy could capitalize on CGEM’s volatility profile. A long-position model entering near $11.91 with a stop-loss at 20% below and a target of $34.00 aligns with the 118% implied upside from the average analyst forecast. Position sizing and volatility adjustments would be critical given the stock’s recent 36% pre-market swing.