Compugen stock price target raised to $13 from $10 at Leerink Partners

Investing.com - Leerink Partners raised its price target on Compugen (NASDAQ:CGEN) to $13.00 from $10.00 on Thursday, while maintaining an Outperform rating on the stock. The company, currently valued at $137 million, maintains a strong financial position with an InvestingPro Financial Health Score of "GREAT" and holds more cash than debt on its balance sheet.

The firm cited AstraZeneca (NASDAQ:AZN)’s continued expansion of rilvegostomig, an Fc-silent TIGIT/PD-1 bispecific therapy, as a key factor that "meaningfully derisks the royalty stream to Compugen." Leerink believes this minimizes capital risk and establishes a baseline valuation for the company. The company’s strong liquidity position, with a current ratio of 5.09, further supports this reduced risk profile. Get deeper insights into Compugen’s financial health with InvestingPro, which offers 8 additional key tips about the company’s performance.

Leerink’s analysts noted that data presented at the 2025 American Society of Clinical Oncology (ASCO) annual meeting supported rilvegostomig’s potential as a "bio-better PD-1" therapy, demonstrating an "excellent safety profile and modest benefit over indirect PD-(L)1 benchmarks."

The research firm’s higher price target reflects increased estimates for the rilvegostomig revenue stream, though it cautions that Phase 3 trial readouts from AstraZeneca are not expected until 2027 or later.

Leerink also mentioned Compugen’s earlier-stage assets, including wholly-owned COM701 (anti-PVRIG) and COM503 (anti-IL18BP, partnered with Gilead (NASDAQ:GILD)), as providing additional upside potential for the company.

In other recent news, Compugen Ltd . announced significant changes in its executive leadership. Anat Cohen-Dayag, Ph.D., will transition from her current position as President and CEO to become the Executive Chair of the Board of Directors, pending shareholder approval. Eran Ophir, Ph.D., is set to be promoted from Chief Scientific Officer to President and CEO, and he will also join the Board of Directors, subject to shareholder approval. This leadership reshuffle is scheduled to take place in September 2025, following Compugen’s Annual General Meeting. Paul Sekhri, the current Chair of the Board of Directors, will be stepping down from his position. Dr. Cohen-Dayag, who has led the company since 2010, will focus on corporate strategy and investor relations in her new role. These changes are part of the company’s ongoing efforts to advance its clinical immunotherapy pipeline and strengthen strategic collaborations.

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