In a report released yesterday, Michael Ulz from Morgan Stanley maintained a Buy rating on Cabaletta Bio (CABA – Research Report), with a price target of $22.00.
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Michael Ulz has given his Buy rating due to a combination of factors, primarily focusing on the promising clinical data and ongoing progress in Cabaletta Bio’s rese-cel program. The updated data presented at EULAR for conditions such as myositis, lupus, and scleroderma show encouraging clinical responses, with significant improvements observed in patients across multiple cohorts.
The company’s continued enrollment and dosing in the RESET program, along with the anticipation of further discussions with the FDA for various conditions, highlight a positive trajectory for Cabaletta Bio. Additionally, the safety profile of rese-cel, with minimal severe adverse effects, supports the potential for long-term success. These factors collectively underpin the Buy rating, as they indicate robust potential for future growth and therapeutic impact.