Analyst Gil Blum from Needham maintained a Buy rating on Cartesian Therapeutics (RNAC – Research Report) and keeping the price target at $41.00.
Gil Blum has given his Buy rating due to a combination of factors that highlight Cartesian Therapeutics’ promising position in the biotechnology sector. The recent Phase IIb results for Descartes-08 in treating myasthenia gravis are particularly encouraging, demonstrating the potential for longer treatment-free intervals compared to the current standard of care. This suggests a significant benefit for patients, with most experiencing over a year of relief.
Additionally, Cartesian Therapeutics benefits from its in-house manufacturing capabilities, which shield it from potential tariff impacts. The company has also completed all critical regulatory discussions with the FDA, ensuring a smoother path forward despite recent personnel changes at the agency. These factors collectively underscore the company’s strong potential for growth and success, justifying the Buy rating.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $40.00 price target.