Candel Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Yigal Nochomovitz from Citi maintained a Buy rating on the stock and has a $24.00 price target.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors that highlight the potential of Candel Therapeutics’ pipeline. The company’s immuno-oncology therapies, CAN-2409 and CAN-3110, are designed to trigger a systemic anti-tumor immune response and can potentially be combined with standard of care treatments. This strategic approach aligns with the criteria for effective immuno-oncology therapies discussed by leading experts in the field.
Furthermore, Candel Therapeutics is poised for significant milestones, including the planned BLA submission for CAN-2409 in prostate cancer by the fourth quarter of 2026. The upcoming updates on clinical trials, such as the Phase 2a data for CAN-2409 in NSCLC and the overall survival update for CAN-3110 in recurrent glioblastoma, further support the positive outlook. These developments, coupled with the company’s favorable risk/reward profile, underpin Nochomovitz’s optimistic rating.