BTIG raised the firm’s price target on Cartesian Therapeutics (RNAC) to $44 from $42 and keeps a Buy rating on the shares. The firm cites the company’s positive results disclosed from the Phase 2 trial of Descartes-08 in systemic lupus erythematosus, or SLE, showing a 100% lupus low disease activity state response and 67% disease remission, the analyst tells investors in a research note. Following these Phase 2 results, the company plans to pause development of Descartes-08 in SLE and shift focus to initiating a Phase 2 trial in myositis, with strong mechanistic alignment based on SLE and MG clinical data, the firm added.
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