Candel Therapeutics assumed with a Buy at H.C. Wainwright

H.C. Wainwright assumed coverage of Candel Therapeutics (CADL) with a Buy rating and $23 price target Candel is “approaching a commercial turning point” with CAN-2409, its lead off-the-shelf, multimodal immunotherapy, the analyst tells investors. The firm believes this asset is positioned to enter a sizable market where recurrence risk remains a major clinical challenge with “physician enthusiasm, market access alignment, and a $10B+ U.S. localized prostate cancer opportunity,” the analyst added.