Analyst John Newman of Canaccord Genuity maintained a Buy rating on Candel Therapeutics (CADL – Research Report), retaining the price target of $25.00.
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John Newman’s rating is based on several promising developments within Candel Therapeutics’ pipeline. The company’s CAN-2409, a treatment for prostate cancer, has shown significant efficacy in reducing the risk of recurrence or death in patients, with a high complete response rate compared to the control group. This treatment is on track for a Biologics License Application (BLA) submission in the fourth quarter of 2026, and the data supporting this submission is strong, increasing the likelihood of approval.
Additionally, the upcoming presentation of Phase 3 data for CAN-2409 at the American Society of Clinical Oncology (ASCO) conference is expected to enhance interest among oncologists, further supporting the stock’s potential. Moreover, Candel’s CAN-3110, targeting recurrent high-grade glioma, has demonstrated promising survival data, with further results anticipated in late 2025. These factors collectively underscore the long-term value potential of Candel’s offerings, justifying the Buy rating and a price target of $25.
Newman covers the Healthcare sector, focusing on stocks such as Candel Therapeutics, Adicet Bio, and BioNTech SE. According to TipRanks, Newman has an average return of -6.6% and a 30.92% success rate on recommended stocks.
In another report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $15.00 price target.