JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
On Monday, H.C. Wainwright reaffirmed a positive stance on Candel Therapeutics Inc. (NASDAQ:CADL), maintaining its Buy rating and a $19.00 price target. Trading at $8.75 with a market capitalization of $413 million, CADL has delivered an impressive 483% return over the past year. The endorsement follows Candel Therapeutics’ recent announcement of its fourth quarter and full-year 2024 results, which included promising developments in its cancer treatment studies. According to InvestingPro, analyst price targets range from $15 to $25, suggesting significant potential upside.
Candel Therapeutics highlighted significant progress in its CAN-2409 studies for prostate and pancreatic cancers. On December 2024, the company’s Phase 3 study of CAN-2409 met its primary endpoint by showing a statistically significant improvement in disease-free survival for patients with prostate cancer. The treatment, which combines CAN-2409 with a prodrug and standard radiation therapy, outperformed the standard of care alone.
Additionally, in February 2025, Candel reported favorable survival data from its Phase 2 trial in pancreatic ductal carcinoma. The median overall survival for patients treated with CAN-2409 plus a prodrug was notably longer than for those in the control group. The survival rate for three out of seven patients treated with CAN-2409 was significantly higher compared to the control group, where only one out of six patients showed similar longevity.
The analysts at H.C. Wainwright believe that the positive outcomes from the prostate and pancreatic cancer trials could indicate similar success in Candel’s ongoing Phase 2a clinical trial for non-small cell lung cancer (NSCLC). The trial’s results, which are expected by the end of the month, could serve as a catalyst for the company’s stock. InvestingPro data shows the company maintains a strong financial position with more cash than debt and a healthy current ratio of 2.77, providing adequate resources for its clinical programs.
The NSCLC trial readout is eagerly anticipated, as it will provide further data on biomarkers and overall survival rates. The potential for positive results has led H.C. Wainwright to reiterate its Buy rating and price target for Candel Therapeutics, reflecting confidence in the company’s therapeutic pipeline and its prospects for future growth. InvestingPro subscribers have access to 8 additional ProTips and comprehensive financial metrics to better evaluate CADL’s investment potential, including detailed profitability metrics and growth indicators.
In other recent news, Candel Therapeutics has announced encouraging results from its phase 2 clinical trial of CAN-2409 for pancreatic ductal adenocarcinoma (PDAC). The trial data revealed a significant increase in median overall survival for patients treated with CAN-2409 and standard of care, showing a median overall survival of 31.4 months compared to 12.5 months for standard care alone. In addition to these findings, Citi has initiated coverage on Candel Therapeutics with a Buy rating and a price target of $25, citing promising results for CAN-2409 in prostate cancer. Meanwhile, H.C. Wainwright has upgraded its price target for Candel Therapeutics to $19.00 from $11.00, maintaining a Buy rating after the successful phase 3 trial of CAN-2409 in localized prostate cancer. This trial demonstrated a 14.5% improvement in disease-free survival at 54 months, increasing the likelihood of regulatory approval to 85%. Candel Therapeutics is also advancing its second program, CAN-3110, targeting recurrent high-grade glioma, with potential updates expected in late 2025. These developments underline the company’s ongoing efforts to expand its portfolio of viral-based immunotherapies for solid tumors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.