BofA Upgrades Candel Therapeutics Following Positive Outlook for Prostate Cancer Gene Therapy
Bank of America Securities upgraded Candel Therapeutics (CADL) to Buy from Hold, citing growing confidence in the potential approval by 2027 of its prostate cancer gene therapy aglatimagene besadenovec (CAN-2409). The upgrade was accompanied by a raised price target from $12 to $18. This reflects an estimated upside of approximately 66% based on September 18 pricing. The decision underscores the biopharmaceutical company's progress in its clinical development pipeline and positive market sentiment around CAN-2409, which is seen as a promising treatment for prostate cancer.
Tickers: $CADL
Topics: Biopharma Gene Therapy Prostate Cancer Treatment Stock Upgrades