William Blair analyst Sami Corwin has maintained their bullish stance on CABA stock, giving a Buy rating on October 30.
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Sami Corwin has given his Buy rating due to a combination of factors that highlight Cabaletta Bio’s promising developments and strategic advancements. The company has presented encouraging results from its RESET trials in autoimmune diseases, specifically showing significant progress in dermatomyositis and antisynthetase syndrome patients. These results, presented at the American College of Rheumatology Convergence, indicate that patients meeting the registrational criteria achieved a major response within 16 weeks, aligning with the FDA’s updated endpoint requirements.
Cabaletta Bio has also secured several important regulatory designations, including the RMAT designation for systemic lupus erythematosus and lupus nephritis, as well as fast-track designation for generalized myasthenia gravis. Additionally, the company has received PRIME designation from the EMA for myositis treatment. The appointment of Steve Gavel as chief commercial officer, with his extensive experience in CAR-T cell therapies, further strengthens the company’s commercial strategy. These factors collectively contribute to the positive outlook and Buy rating for Cabaletta Bio’s stock.
In another report released on October 30, Cantor Fitzgerald also maintained a Buy rating on the stock with a $30.00 price target.