William Blair analyst Sami Corwin has maintained their bullish stance on CABA stock, giving a Buy rating today.
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Sami Corwin has given his Buy rating due to a combination of factors including promising clinical data and strategic developments at Cabaletta Bio. The updated results from the RESET clinical trial of their rese-cel therapy showed significant improvements in disease severity across patients with myositis, systemic lupus erythematosus, and systemic sclerosis. Notably, patients have been able to discontinue immunosuppressants and steroids, suggesting a potential for drug-free remission.
Additionally, Cabaletta Bio’s proactive approach towards aligning with the FDA on registrational trial designs is expected to provide a clear pathway for future approvals, particularly with the promising data in lupus and dermatomyositis. The company’s progress in enrolling patients across multiple trials and the fast-track designation by the FDA for certain indications further underscore the investment potential. These factors combined present a promising outlook for Cabaletta Bio, justifying the Buy recommendation.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $25.00 price target.