Analyst Vernon Bernardino of H.C. Wainwright reiterated a Buy rating on Candel Therapeutics (CADL – Research Report), retaining the price target of $19.00.
Vernon Bernardino’s rating is based on the promising clinical outcomes of Candel Therapeutics’ CAN-2409, which has demonstrated significant potential in treating various solid tumors. The therapy has shown robust activation of the immune response, leading to meaningful improvements in disease-free survival in prostate cancer and extended survival benefits in pancreatic cancer. Additionally, CAN-2409 has yielded positive results in non-small cell lung cancer (NSCLC) and high-grade glioma (HGG) when combined with nivolumab, with notable extensions in median overall survival.
The recent Phase 2a study completion in NSCLC and the strategic shift towards CAN-3110 in HGG further highlight the potential market value of CAN-2409. The findings, including biomarker results, align with previous clinical trial outcomes, suggesting a strong future for CAN-2409 in oncology. Bernardino reiterates the Buy rating with a price target of $19, viewing the recent stock pullback as an excellent buying opportunity for investors.
According to TipRanks, Bernardino is an analyst with an average return of -5.1% and a 21.26% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as Candel Therapeutics, Cassava Sciences, and Aethlon Medical.
In another report released on March 27, Bank of America Securities also maintained a Buy rating on the stock with a $15.00 price target.