Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on Caribou Biosciences, with a price target of $3.00.
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Robert Burns has given his Buy rating due to a combination of factors that highlight the potential of Caribou Biosciences’ stock. A key element is the anticipated data on partial HLA matching for CB-010 by the end of the year, which could significantly impact the stock’s performance. Burns notes that the forthcoming presentation of additional data from the ANTLER trial in the second half of 2025 is crucial, especially considering the promising progression-free survival (PFS) results observed in patients with higher HLA matches.
Furthermore, Burns points out that if the confirmatory cohort of patients treated with CB-010 shows similar PFS results to those seen in the ZUMA-7 trial with Yescarta, the allogeneic nature of CB-010 could offer a competitive edge. Additionally, the initial dose escalation results from the Phase 1 CaMMouflage trial for CB-011 in relapsed/refractory multiple myeloma, expected in the latter half of 2025, provide further potential catalysts for the stock. These factors collectively support the reiterated Buy rating and the 12-month price target of $3 per share.