Analyst John Newman from Canaccord Genuity maintained a Buy rating on Candel Therapeutics and keeping the price target at $25.00.
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John Newman has given his Buy rating due to a combination of factors, including the promising developments in Candel Therapeutics’ pipeline. The company is on track with its data update for CAN-3110, expected in the fourth quarter of 2025, which is anticipated to show positive results in treating High Grade Glioma. This optimism is further supported by the upcoming overall survival update for CAN-3110 in Phase 1b, involving multiple dose levels, which could demonstrate significant efficacy.
Additionally, Candel’s plans for a Biologics License Application (BLA) filing by the end of 2026 for CAN-2409 in prostate cancer add to the positive outlook. The company is actively preparing for commercialization, including using a new manufacturer for the commercial product and ensuring analytical comparability with the clinical formulation. Newman’s confidence is bolstered by expectations of FDA approval for CAN-2409 and continued positive data for its applications in lung and pancreatic cancers, supporting the $25 price target.
According to TipRanks, Newman is an analyst with an average return of -5.0% and a 34.94% success rate. Newman covers the Healthcare sector, focusing on stocks such as Delcath Systems, Marker Therapeutics, and Regeneron.