HC Wainwright & Co. Maintains Buy on Cartesian Therapeutics, Adjusts Price Target To $54
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 23 2024
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Source: Benzinga
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Analyst Views on RNAC
Wall Street analysts forecast RNAC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RNAC is 35.00 USD with a low forecast of 16.00 USD and a high forecast of 44.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
6 Buy
2 Hold
0 Sell
Strong Buy
Current: 6.980
Low
16.00
Averages
35.00
High
44.00
Current: 6.980
Low
16.00
Averages
35.00
High
44.00
About RNAC
Cartesian Therapeutics, Inc. is a clinical-stage company pioneering cell therapy for the treatment of autoimmune diseases. It leverages its proprietary technology and manufacturing platform to introduce one or more mRNA molecules into cells to enhance their function. The Company’s lead asset, Descartes-08, is a chimeric antigen receptor T-cell therapy (CAR-T) entering Phase 3 clinical development for patients with generalized myasthenia gravis and Phase 2 development for systemic lupus erythematosus, with a Phase 2 basket trial planned in additional autoimmune indications. The Company’s clinical-stage pipeline also includes Descartes-15, a next-generation, autologous anti-B-cell maturation antigen (BCMA) CAR-T being evaluated in a Phase 1 trial in patients with multiple myeloma. Descartes-08 is an autologous chimeric antigen receptor T-cell therapy product targeting B-cell maturation antigen in clinical development for generalized myasthenia gravis and systemic lupus erythematosus.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Cartesian Advances Descartes-08 Clinical Trials for Autoimmune Diseases
- Clinical Trial Progress: Cartesian's Descartes-08 is on track in the Phase 3 AURORA trial for myasthenia gravis, aiming to enroll approximately 100 participants to assess its impact on MG Activities of Daily Living, which could significantly enhance treatment outcomes and expand market share if successful.
- FDA Approval for New Indication: The IND application for Descartes-08 in myositis has been accepted by the FDA, with plans to initiate a Phase 2 trial in the first half of 2026, providing a potential opportunity for a single pivotal trial that would further strengthen its competitive position in autoimmune diseases.
- Pediatric Trial Initiation: The Phase 1/2 pediatric trial of Descartes-08 has been initiated for juvenile dermatomyositis, with the FDA granting Rare Pediatric Disease Designation, indicating the company's strategic focus on the pediatric autoimmune disease market.
- Funding Support Plan: Current cash resources are expected to support the completion of the ongoing Phase 3 trial for Descartes-08 and the initiation of the Phase 2 myositis trial through mid-2027, ensuring continued investment in R&D and maintaining market competitiveness.
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Cartesian Advances Descartes-08 Clinical Trials for Autoimmune Diseases
- Clinical Trial Progress: Enrollment in the Phase 3 AURORA trial of Descartes-08 for myasthenia gravis is on track, with plans to initiate a Phase 2 trial for myositis in the first half of 2026, showcasing the company's ongoing innovation in autoimmune disease treatment.
- FDA Approval: The IND application for Descartes-08 targeting myositis has been accepted by the FDA, with a randomized double-blind trial planned for the first half of 2026, potentially paving the way for a single pivotal trial and enhancing market competitiveness.
- Funding Support: The company expects its current cash resources to support planned operations, including the completion of the Phase 3 trial for Descartes-08, through mid-2027, ensuring continuity and stability in its R&D efforts.
- Pediatric Trial Launch: The Phase 1/2 trial of Descartes-08 in juvenile dermatomyositis has been initiated, with the FDA granting Rare Pediatric Disease Designation, indicating the company's strategic positioning in treating autoimmune diseases in children.
Continue Reading