Leerink Partners analyst Thomas Smith has reiterated their bullish stance on RNAC stock, giving a Buy rating yesterday.
Thomas Smith has given his Buy rating due to a combination of factors including the promising long-term data from Cartesian Therapeutics’ Phase 2b trial of Descartes-08 in treating myasthenia gravis. The trial results demonstrate significant and durable reductions in key efficacy endpoints, indicating a strong therapeutic effect. Importantly, the data also show a favorable safety profile, with no new safety concerns such as CRS or ICANS, which supports the potential for outpatient administration without the need for lymphodepletion.
Furthermore, the trial’s outcomes suggest a competitive depth of response and promising durability, which differentiates Descartes-08 in the market. The anticipation of further clinical data, including crossover and re-treatment experiences, as well as the upcoming Phase 3 AURORA trial, adds to the positive outlook. These factors collectively underpin Thomas Smith’s confidence in the stock’s potential, leading to the Buy rating.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $40.00 price target.
RNAC’s price has also changed dramatically for the past six months – from $24.120 to $9.520, which is a -60.53% drop .