Promising Clinical Data and Future Prospects Drive Buy Rating for Cartesian Therapeutics

Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Cartesian Therapeutics (RNAC – Research Report) and keeping the price target at $40.00.

Mitchell Kapoor has given his Buy rating due to a combination of factors related to the promising clinical data and future prospects of Cartesian Therapeutics. The updated results from the Phase 2b trial of Descartes-08 in myasthenia gravis (MG) have reinforced confidence in the therapy’s potential, showing consistent and competitive efficacy compared to existing treatments. The data indicate a durable response and a longer duration of beneficial effects, particularly in patients who had not previously received biologics, which positions Descartes-08 as a differentiated option in the market.
Looking ahead, Cartesian Therapeutics is on track to initiate the Phase 3 AURORA trial, which will further evaluate the efficacy of Descartes-08. The trial design includes a robust assessment of the therapy’s impact on MG-ADL scores, with the potential for approval based on a four-month readout. Additionally, Cartesian is advancing its pipeline with ongoing trials in other autoimmune conditions, such as systemic lupus erythematosus, which could expand the therapeutic applications of Descartes-08. These developments, along with the potential for less frequent dosing and sustained disease suppression, underpin Kapoor’s optimistic outlook and the reiterated Buy rating with a 12-month price target of $40.

In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $40.00 price target.