Caribou Biosciences (CRBU – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Robert Burns from H.C. Wainwright remains neutral on the stock and has a $23.00 price target.
Robert Burns’ Buy rating for Caribou Biosciences is anchored on several key factors. The company’s financial performance for 3Q23 exceeded expectations, recording a significantly less net loss per share than initially projected, primarily due to increased licensing and collaboration revenue. Additionally, with the company closing 3Q23 with substantial cash reserves, it is expected to have an operational runway extending into 4Q25. This strong financial position combined with several impending catalysts reinforces Burns’ Buy rating.
Furthermore, Burns identifies multiple potential clinical data catalysts that could further boost Caribou’s stock. Among these are the potential dose-escalation results for CB-011, competitor data sets, and FDA feedback on potential pivotal clinical trials for CB-010. Moreover, updated results from the ANTLER trial, which evaluates the efficacy of CB-010, have shown promising outcomes despite the relatively small sample size. The trail’s results, combined with the recent equity investment from Pfizer based on undisclosed clinical data, add to the list of reasons why Burns has recommended a Buy rating for Caribou Biosciences.
In another report released on November 7, Leerink Partners also reiterated a Buy rating on the stock with a $25.00 price target.
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Caribou Biosciences (CRBU) Company Description:
Caribou Biosciences Inc is a clinical-stage biopharmaceutical company dedicated to transforming the lives of patients with devastating diseases by applying its novel CRISPR platform, CRISPR hybrid RNA-DNA (chRDNA), toward the development of next-generation, genome-edited cell therapies.
Read More on CRBU:
- Snowflake upgraded, Lucid downgraded: Wall Street’s top analyst calls
- Cantor Fitzgerald cautious on Caribou Biosciences, starts a Neutral
- Caribou Biosciences initiated with a Neutral at Cantor Fitzgerald
- Caribou Biosciences appoints Sundar Jagannath, MD to Scientific Advisory Board
- Caribou Biosciences reports Q3 EPS (12c), consensus (42c)
