Candel Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst on December 5. Analyst Alec Stranahan from Bank of America Securities maintained a Hold rating on the stock and has a $7.00 price target.
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Alec Stranahan’s rating is based on the progress and challenges Candel Therapeutics faces in its development programs. The company has shown promising results with its CAN-2409 treatment for prostate cancer and non-small cell lung cancer (NSCLC), but the path to regulatory approval and market uptake remains a critical factor. The recent R&D day highlighted the importance of physician sentiment and regulatory pathways, which will be crucial as the company moves towards later-stage trials and potential approval.
While the data for CAN-2409 appears solid, especially with an 85% probability of success in their model, the company still faces hurdles in terms of financing and market penetration. The upcoming BLA submission for prostate cancer and the initiation of a pivotal trial for NSCLC are key milestones. Additionally, the early data for CAN-3110 in recurrent high-grade glioma (rHGG) is promising, but further long-term data is needed to assess its potential. These factors contribute to the Hold rating, reflecting a balanced view of the company’s potential and the risks involved.
CADL’s price has also changed slightly for the past six months – from $5.550 to $5.330, which is a -3.96% drop .