In a report released yesterday, Julian Harrison from BTIG reiterated a Buy rating on Cartesian Therapeutics (RNAC – Research Report), with a price target of $42.00.
Julian Harrison has given his Buy rating due to a combination of factors that highlight the promising potential of Cartesian Therapeutics’ Descartes-08 in treating generalized myasthenia gravis (gMG). The updated Phase 2b trial data demonstrated significant long-term efficacy, with patients showing deep and sustained responses over a 12-month period. This improvement was particularly notable in patients without prior biologic exposure, suggesting a strong potential for Descartes-08 to outperform existing treatments in the FcRn class.
Moreover, Descartes-08 maintained a favorable safety profile, with no adverse events reported between the 4-month and 12-month marks, distinguishing it from traditional DNA-based CAR-T therapies. The upcoming Phase 3 AURORA trial is expected to build on these results, focusing on a specific patient group that showed even better outcomes in Phase 2b. With the potential for longer dosing intervals and a clean safety record, Descartes-08 is well-positioned to meet the unmet needs in gMG treatment, supporting the Buy recommendation.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $40.00 price target.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RNAC in relation to earlier this year.