Analyst Gil Blum from Needham maintained a Buy rating on Cartesian Therapeutics (RNAC – Research Report) and keeping the price target at $41.00.
Gil Blum has given his Buy rating due to a combination of factors that highlight the potential of Cartesian Therapeutics. The company is preparing to start a pivotal study for severe myasthenia gravis (MG) in the first half of 2025, with promising Phase II results already indicating a lasting clinical benefit over a year-long follow-up period. This positive outlook is further supported by Cartesian’s financial position, with $214 million in cash at the end of 2024, which provides a solid foundation for future developments.
Additionally, Cartesian is expected to initiate a Phase II pediatric study for Descartes-08 in the second half of 2025, targeting various autoimmune diseases. The analyst has also updated the pricing and total addressable market assumptions for MG, projecting approximately $3.6 billion in sales by 2037. These strategic plans and financial projections underpin the Buy rating, alongside a maintained price target of $41.
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