Analyst Andres Y. Maldonado of H.C. Wainwright reiterated a Buy rating on Candel Therapeutics, retaining the price target of $23.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight the promising potential of Candel Therapeutics’ CAN-2409 therapy. Recent data from a Phase 3 study in prostate cancer patients demonstrated that CAN-2409 is effective across various radiation modalities, showing significant improvements in patient outcomes without being dependent on androgen deprivation therapy (ADT). The therapy notably increased the proportion of patients achieving a low PSA nadir and improved the rate of pathological complete response in biopsies, suggesting a strong potential for approval and adoption into treatment guidelines.
Furthermore, CAN-2409’s mechanism of action, which involves activating cytotoxic T cell responses, has shown encouraging results not only in prostate cancer but also in other solid tumors like pancreatic ductal adenocarcinoma (PDAC) and non-small cell lung cancer (NSCLC). This broad applicability enhances its value as a versatile immunotherapy option. While there are still questions about its long-term integration into treatment paradigms and its impact on disease-free survival, these are seen as addressable through ongoing clinical research, reinforcing the Buy rating.