TD Cowen analyst Tyler Van Buren has maintained their bullish stance on RNAC stock, giving a Buy rating on November 19.
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Tyler Van Buren has given his Buy rating due to a combination of factors including Cartesian Therapeutics’ strategic pivot and promising clinical data. The company has decided to focus on myositis, a condition with a significant unmet medical need and less competition, which is a strategic move supported by Van Buren. The ongoing Phase III AURORA trial in generalized myasthenia gravis (gMG) is considered low-risk because of the strong Phase II results, and the Descartes-08 therapy benefits from being an mRNA-based CAR-T with improved margins and no need for lymphodepletion.
Cartesian’s decision to halt the SLE trial, despite impressive Phase II data, is seen as a wise move due to the competitive landscape and challenges in patient enrollment. The Descartes-08 therapy showed a 100% response rate in the SLE trial and led to significant reductions in proinflammatory cytokines, with a favorable safety profile. The company’s plan to advance Descartes-08 in myositis, supported by biomarker data, is viewed as a promising opportunity that could lead to a registration-enabling trial, further justifying the Buy rating.
According to TipRanks, Van Buren is a 4-star analyst with an average return of 6.2% and a 49.59% success rate. Van Buren covers the Healthcare sector, focusing on stocks such as Soleno Therapeutics, Gilead Sciences, and IDEAYA Biosciences.
In another report released on November 19, H.C. Wainwright also maintained a Buy rating on the stock with a $30.00 price target.