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Investing.com - Wedbush initiated coverage on Cartesian Therapeutics (NASDAQ:RNAC) with an Outperform rating and a price target of $38.00 on Wednesday. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $16 to $42.
The research firm highlighted RNAC as a clinical-stage biopharmaceutical company developing mRNA cell therapies for immunology and inflammation with significant advantages over standard DNA-based CAR-T cell therapies.
Wedbush noted these advantages include no need for conditioning with lymphodepletion, lower COGS, improved safety, and redosing potential for the company’s therapies.
The firm pointed to Cartesian’s lead candidate Descartes-08, a BCMA directed product that showed deeper responses in a Phase 2 myasthenia gravis trial than benchmarks for approved biologics, with a registrational Phase 3 trial (AURORA) now enrolling.
Wedbush also identified potential upside from expansion into other autoimmune indications, including a Phase 2 lupus trial with initial data expected in the second half of 2025 and an ongoing Phase 2 pediatric basket trial across multiple indications.
In other recent news, Cartesian Therapeutics has been actively engaging in several significant developments. The company recently held its 2025 Annual Meeting of Stockholders, where key decisions were made, including the election of three Class III Directors and the approval of executive compensation. Additionally, Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025. Cartesian Therapeutics also announced the enrollment of the first participant in its Phase 3 AURORA trial for Descartes-08, a therapy for myasthenia gravis, marking a crucial milestone in its clinical trials. Analysts from H.C. Wainwright and BTIG have maintained their Buy ratings on Cartesian Therapeutics, with price targets of $40 and $42, respectively, underscoring the potential of Descartes-08. Furthermore, the company disclosed the transition of its Chief Technology Officer, Dr. Metin Kurtoglu, to a consulting role, effective May 1, 2025, with comprehensive agreements in place regarding his departure. These developments reflect Cartesian Therapeutics’ ongoing strategic initiatives and progress in its therapeutic pipeline.
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