Morgan Stanley analyst Michael Ulz upgraded Cabaletta Bio to Overweight from Equal Weight with a price target of $16, up from $3. The Investigational New Drug filing for CABA-201 is expected in the first half of 2023, setting the stage for initial Phase 1 data in the frost half of 2023, which should drive share upside, the analyst tells investors in a research note. The firm says Cabaletta management is experienced in developing cell therapies for autoimmune disease. It cites Cabaletta’s confidence in near term Investigational New Drug filing followed by data in 2024 for the upgrade.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on CABA:
- Cabaletta Bio upgraded to Overweight from Equal Weight at Morgan Stanley
- Know Who to Follow! Here are the Top Female Analysts of 2022
- Autolus enters non-exclusive license agreement with Cabaletta
- Cabaletta Bio to Present at the 41st Annual J.P. Morgan Healthcare Conference
- Cabaletta Bio price target raised to $14 from $4 at Wells Fargo
