Cabaletta Bio (CABA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Michael Ulz from Morgan Stanley maintained a Buy rating on the stock and has a $22.00 price target.
Michael Ulz has given his Buy rating due to a combination of factors, primarily focusing on Cabaletta Bio’s progress in their clinical programs and financial stability. The company has shown rapid progress in the enrollment of its CABA-201 RESET clinical program, with a notable increase in patient enrollment and active recruitment sites, indicating strong momentum in their research efforts.
Additionally, Cabaletta Bio is on track to meet with the FDA in the first half of 2025 to discuss the design of their myositis registrational trial, which is a significant milestone. Despite a safety update indicating a second case of high-grade ICANS following a protocol deviation, the issue was resolved quickly, and no changes were recommended by the Independent Data Monitoring Committee. Furthermore, the company ended the fourth quarter of 2024 with a solid cash position, expected to support operations into the first half of 2026, providing a stable financial outlook.
Ulz covers the Healthcare sector, focusing on stocks such as Viking Therapeutics, Alnylam Pharma, and Sarepta Therapeutics. According to TipRanks, Ulz has an average return of -7.4% and a 35.56% success rate on recommended stocks.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $13.00 price target.