Candel Therapeutics: Advancing CAN-2409 Toward BLA With Platform-Like Oncology Potential and Diversified Pipeline Upside

Analyst Andres Y. Maldonado of H.C. Wainwright reiterated a Buy rating on Candel Therapeutics, with a price target of $23.00.

Andres Y. Maldonado has given his Buy rating due to a combination of factors tied to Candel Therapeutics’ growing commercial readiness and clinical momentum. He highlights that the company is moving methodically toward a BLA filing for CAN-2409 in localized prostate cancer, supported by FDA alignment on disease-free survival as an acceptable primary endpoint, maturing Phase 3 follow-up data, and a scalable manufacturing process already producing large batches for pivotal trials.

At the same time, Maldonado points to CAN-2409’s broader potential, with a registrational Phase 3 trial in NSCLC slated to begin shortly after favorable feedback from regulators, and survival data across NSCLC and PDAC suggesting a platform-like, immune-modulating role. He also notes progress with CAN-3110 in recurrent high-grade glioma, where early survival outcomes back its ability to convert immunologically “cold” tumors into more responsive ones, collectively reinforcing his view of a diversified pipeline, reduced execution risk, and upside that justifies a Buy rating and a $23 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 49.2% and a 55.50% success rate on recommended stocks.