Analyst Yigal Nochomovitz from Citi maintained a Buy rating on Candel Therapeutics and keeping the price target at $25.00.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors surrounding Candel Therapeutics’ promising developments. The company has demonstrated strong positive Phase 3 data for their CAN-2409 treatment combined with radiotherapy in patients with intermediate-to-high-risk localized prostate cancer. This promising data underpins the potential for significant advancements in this therapeutic area, which is a key focus for the company.
Additionally, Candel Therapeutics is planning further Phase 3 trials for CAN-2409 in other indications such as non-small cell lung cancer and pancreatic cancer, although this will require additional funding. The company’s financial runway is currently secured into the first quarter of 2027, following a recent fundraising effort. Furthermore, the anticipated biomarker and survival data for CAN-3110 in recurrent high-grade glioma (HGG) is expected to provide additional insights in the fourth quarter of 2025, which could further bolster the company’s prospects. These factors contribute to the expected significant share price return of 274.8%, justifying the Buy rating.
In another report released on July 14, Freedom Capital Markets also initiated coverage with a Buy rating on the stock with a $13.00 price target.
CADL’s price has also changed slightly for the past six months – from $6.840 to $6.670, which is a -2.49% drop .