Analyst Michael Ulz of Morgan Stanley reiterated a Buy rating on Cabaletta Bio, retaining the price target of $22.00.
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Michael Ulz has given his Buy rating due to a combination of factors that highlight the promising potential of Cabaletta Bio’s rese-cel therapy. The initial data from the RESET-PV trial presented at the ESGCT meeting demonstrated significant biologic activity and early clinical benefits in patients with pemphigus vulgaris, even without preconditioning. This is noteworthy as it suggests that rese-cel can achieve therapeutic effects comparable to preconditioned cohorts, with all patients experiencing B-cell depletion and significant improvements in disease activity scores.
Furthermore, the safety profile of rese-cel was favorable, with only mild adverse events reported, indicating a well-tolerated treatment. The management’s plans to expand the trial enrollment and explore higher doses, as well as potentially incorporate no-preconditioning regimens into other studies, further support the positive outlook. These developments suggest a strong potential for rese-cel to improve treatment profiles, which underpins Ulz’s optimistic Buy rating for Cabaletta Bio.
According to TipRanks, Ulz is a 4-star analyst with an average return of 4.6% and a 44.48% success rate. Ulz covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Alnylam Pharma, and Rhythm Pharmaceuticals.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $16.00 price target.