Candel Therapeutics price target raised to $19 from $11 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Candel Therapeutics (CADL) to $19 from $11 and keeps a Buy rating on the shares. The company announced positive top-line data from its Phase 3 clinical trial with CAN-2409 in patients with intermediate-to-high risk localized prostate cancer, the analyst tells investors in a research note. The firm believes the probability of CAN-2409 as an off-the-shelf immunotherapy gaining regulatory approval has increased to 85% from a 35% probability of success.