William Blair analyst Sami Corwin has maintained their bullish stance on CABA stock, giving a Buy rating today.
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Sami Corwin has given his Buy rating due to a combination of factors related to Cabaletta Bio’s recent clinical trial results. The company announced promising outcomes from their RESET-Myositis, RESET-SSc, and RESET-SLE trials, which are evaluating the efficacy of rese-cel in treating autoimmune diseases. Notably, all patients with dermatomyositis and antisynthetase syndrome who met the trial criteria showed significant improvement at the 16-week mark, without the need for immunomodulatory treatment. This success reduces the risk associated with the ongoing registrational trial for these conditions.
Cabaletta Bio’s trials also demonstrated positive results in patients with immune-necrotizing myopathy and systemic lupus erythematosus, with a significant portion achieving remission or renal response. These encouraging outcomes suggest that rese-cel could be a viable treatment option for these challenging conditions, supporting the potential for future market success. As a result, Corwin’s Buy rating reflects confidence in Cabaletta Bio’s ability to advance their clinical programs and achieve favorable regulatory outcomes, potentially leading to increased stock value.
Corwin covers the Healthcare sector, focusing on stocks such as Cabaletta Bio, Sarepta Therapeutics, and PTC Therapeutics. According to TipRanks, Corwin has an average return of 27.6% and a 58.59% success rate on recommended stocks.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $16.00 price target.