Analyst Thomas Smith of Leerink Partners reiterated a Buy rating on Cartesian Therapeutics (RNAC – Research Report), retaining the price target of $39.00.
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Thomas Smith has given his Buy rating due to a combination of factors surrounding Cartesian Therapeutics’ promising developments in their mRNA-based CAR-T cell therapies. The company is on track with its clinical timelines, notably with the initiation of the Phase 3 AURORA trial for their lead program, Descartes-08, in generalized myasthenia gravis. This program has shown significant efficacy in earlier trials, with patients demonstrating sustained improvement over a year.
Additionally, Cartesian Therapeutics is expanding its pipeline with plans to initiate a Phase 2 trial for Descartes-08 in pediatric autoimmune diseases and to continue the development of Descartes-15 for multiple myeloma and autoimmune diseases. The company’s innovative approach and strong Phase 2b data position it competitively in the evolving landscape of autoimmune disease treatments. These strategic advancements and the potential for positive clinical outcomes underpin Smith’s optimistic outlook on the stock.
In another report released on May 9, Mizuho Securities also maintained a Buy rating on the stock with a $40.00 price target.