Andres Y. Maldonado, an analyst from H.C. Wainwright, reiterated the Buy rating on Candel Therapeutics. The associated price target remains the same with $23.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors tied to CAN-2409’s emerging clinical profile in hard‑to‑treat lung cancer. The updated data set in advanced NSCLC patients who had already failed immune checkpoint inhibitors and chemotherapy shows median overall survival roughly doubling historical benchmarks, with a meaningful proportion of patients living well beyond two to three years, which he views as strong justification for advancing to a pivotal Phase 3 trial.
At the same time, he highlights biomarker and biopsy findings that indicate CAN-2409 can reprogram “cold” tumors by boosting interferon pathways, activating antigen‑presenting cells, and broadening T‑cell receptor diversity in both tumors and blood, even when PD‑L1 expression is low. Combined with regulatory momentum, a clear BLA path in prostate cancer, and the potential for CAN-2409 to function as a platform‑like immunotherapy across multiple indications, these elements underpin his conviction that the company’s risk‑reward profile supports a Buy rating and a $23 per share price target.
Y. Maldonado covers the Healthcare sector, focusing on stocks such as ImmunityBio, Verastem, and Protara Therapeutics. According to TipRanks, Y. Maldonado has an average return of 45.1% and a 50.71% success rate on recommended stocks.
In another report released on March 13, Canaccord Genuity also maintained a Buy rating on the stock with a $25.00 price target.