Michael Ulz, an analyst from Morgan Stanley, maintained the Buy rating on Cabaletta Bio. The associated price target remains the same with $22.00.
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Michael Ulz has given his Buy rating due to a combination of factors that highlight Cabaletta Bio’s promising progress and strategic timelines. The company has demonstrated continued advancement in its RESET programs, particularly with rese-cel, which has shown positive results in driving remission and organ responses in conditions like SSc, SLE, and myositis. These promising outcomes have been presented at key industry conferences, reinforcing confidence in the company’s research and development trajectory.
Moreover, Cabaletta Bio is on track with its timelines for upcoming data releases and trial initiations. The company plans to start a registrational cohort for RESET-myositis in the fourth quarter of 2025, aiming for a BLA submission in 2027. Additionally, Cabaletta Bio’s financial position remains robust, with sufficient cash reserves to support its planned operations. These factors collectively contribute to the Buy rating as they indicate potential for future growth and successful product development.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $16.00 price target.