H.C. Wainwright analyst Douglas Tsao maintained a Buy rating on Cabaletta Bio today and set a price target of $16.00.
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Douglas Tsao’s rating is based on Cabaletta Bio’s promising clinical data and strategic advancements. The company has demonstrated a strong safety profile for its rese-cel therapy, particularly in autoimmune diseases, with a significant portion of patients not experiencing severe side effects. This is attributed to their weight-adjusted dosing strategy, which contrasts with the fixed-dose approach of competitors, potentially offering a safer alternative in the market.
Cabaletta Bio is also making strides in its clinical trials, with positive outcomes in various cohorts, including Myositis and Lupus. The initiation of a registrational cohort for DM/ASyS and the expansion of a preconditioning-free strategy for Lupus highlight their proactive approach in addressing unmet medical needs. These factors, coupled with the company’s ability to achieve significant patient responses without preconditioning, underpin Tsao’s optimistic Buy rating for Cabaletta Bio.
Tsao covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, Hansa Biopharma AB, and Cabaletta Bio. According to TipRanks, Tsao has an average return of 19.5% and a 53.44% success rate on recommended stocks.