Promising Outlook for Cartesian Therapeutics: Buy Rating Backed by Advancements in Descartes-08 Trials and Strong Financial Projections

H.C. Wainwright analyst Mitchell Kapoor reiterated a Buy rating on Cartesian Therapeutics (RNAC – Research Report) today and set a price target of $40.00.

Mitchell Kapoor has given his Buy rating due to a combination of factors surrounding Cartesian Therapeutics’ promising developments. The initiation of the Phase 3 AURORA trial for Descartes-08, a CAR-T cell therapy targeting BCMA for myasthenia gravis, is a significant milestone. This trial is on schedule and aims to evaluate the therapy’s effectiveness in improving patients’ daily living activities without the need for preconditioning chemotherapy, which is a notable advantage.
Additionally, the positive results from the Phase 2b trial, where Descartes-08 demonstrated sustained efficacy and a favorable safety profile, bolster confidence in its potential. The anticipation of Phase 2 data for systemic lupus erythematosus in the latter half of 2025 further enhances the therapy’s prospects. A discounted cash flow analysis suggests a robust enterprise value, supporting a 12-month price target of $40, despite inherent risks such as trial delays and clinical data uncertainties.

In another report released on May 30, BTIG also reiterated a Buy rating on the stock with a $42.00 price target.