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 surrounding Candel Therapeutics’ strategic advancements and regulatory progress. The company has demonstrated a clear plan for the BLA submission and commercial readiness for its lead asset, CAN-2409, which has received supportive designations from the FDA, indicating a streamlined path towards approval without the need for additional clinical studies.
Furthermore, Candel’s commercial strategy is capital-efficient, leveraging partnerships for market access and stakeholder engagement, which positions them well for a successful launch. The robust Phase 3 data for CAN-2409 in prostate cancer and positive Phase 2 results in NSCLC further de-risk the asset’s commercialization potential. These developments, alongside promising data from other pipeline candidates like CAN-3110, reinforce the company’s readiness to transition from clinical to commercial operations, supporting the Buy rating.
According to TipRanks, Y. Maldonado is a 5-star analyst with an average return of 15.7% and a 54.55% success rate. Y. Maldonado covers the Healthcare sector, focusing on stocks such as Protara Therapeutics, Candel Therapeutics, and Syndax Pharmaceuticals.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $24.00 price target.