Candel Therapeutics (CADL) has received a new Buy rating, initiated by LifeSci Capital analyst, Oliver McCammon.
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Oliver McCammon has given his Buy rating due to a combination of factors that highlight the potential of Candel Therapeutics’ lead program, CAN-2409. The program has shown promising results in a Phase 3 trial, demonstrating a significant reduction in disease recurrence among patients with intermediate- to high-risk localized prostate cancer when combined with standard care treatments. This outcome suggests a strong efficacy profile that could appeal to medical professionals in the field.
Furthermore, McCammon’s analysis is supported by discussions with various specialists, including urologists and oncologists, who expressed a willingness to integrate CAN-2409 into their clinical practices if it receives regulatory approval. The likelihood of such approval is bolstered by the trial’s conduct under a Special Protocol Assessment with the FDA, which enhances the regulatory prospects. These insights, combined with the potential for CAN-2409 to gain significant clinical use, underpin McCammon’s positive outlook and the Buy rating for Candel Therapeutics.
In another report released on October 15, H.C. Wainwright also maintained a Buy rating on the stock with a $23.00 price target.