Douglas Tsao, an analyst from H.C. Wainwright, reiterated the Buy rating on Cabaletta Bio (CABA – Research Report). The associated price target remains the same with $25.00.
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Douglas Tsao has given his Buy rating due to a combination of factors surrounding Cabaletta Bio’s recent progress and strategic developments. The company has successfully reached an agreement with the FDA to transition the RESET-Myositis trial into a registrational phase, which is a significant milestone. This alignment with the FDA allows Cabaletta to proceed with two subtype-specific cohorts, enhancing the trial’s robustness and potential for success.
Moreover, the primary endpoint of the trial, which involves a composite TIS score, has been consistently achieved by all patients treated with rese-cel so far, indicating a strong efficacy profile. The fact that this endpoint is not achievable by existing therapies highlights the potential competitive advantage of rese-cel. Additionally, the company’s strategy to use pooled safety data from the entire RESET trial program for the BLA submission further strengthens its regulatory position. These developments, coupled with the anticipated presentation of new clinical data, underpin Tsao’s positive outlook on Cabaletta Bio’s stock.
According to TipRanks, Tsao is a 4-star analyst with an average return of 6.8% and a 36.71% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, scPharmaceuticals, and Neumora Therapeutics, Inc..
In another report released yesterday, Guggenheim also reiterated a Buy rating on the stock with a $25.00 price target.
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