Needham analyst Gil Blum maintained a Buy rating on Cartesian Therapeutics (RNAC – Research Report) today and set a price target of $40.00.
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Gil Blum has given his Buy rating due to a combination of factors surrounding Cartesian Therapeutics’ promising clinical development progress. The company is on track to begin a pivotal study for severe myasthenia gravis (MG) in the first half of 2025, with expectations for topline results by mid-2027. This timeline aligns with their cash runway guidance, providing a stable financial outlook.
Additionally, the updated Phase II results for MG have shown durable clinical benefits lasting over a year, which adds to the positive sentiment. Cartesian is also advancing its research in systemic lupus erythematosus (SLE), with initial Phase II data expected in the latter half of 2025. The upcoming pediatric autoimmune disease basket study, including conditions like SLE and MG, further supports the Buy rating as it demonstrates the company’s commitment to expanding its therapeutic pipeline.
According to TipRanks, Blum is an analyst with an average return of -11.5% and a 32.34% success rate. Blum covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Autolus Therapeutics, and Immunocore Holdings.