Buy Rating Affirmed on Carisma Therapeutics Amid Promising Early Research and Pipeline Potential

Carisma Therapeutics (CARM – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on the stock and has a $9.00 price target.

Mitchell Kapoor has given his Buy rating due to a combination of factors surrounding Carisma Therapeutics’ ongoing research and the potential of their products. Initial data from a Phase 1 sub-study using Carisma’s CT-0508 in combination with Keytruda showed some promise, with one patient achieving stable disease. Despite two patients experiencing progressive disease, Kapoor notes that steroid administration may have impacted the drug’s efficacy, and measures are being taken to limit such interventions in the future. The safety profile of the combination appears favorable, and there is anticipation for a full dataset that could reveal positive trends compared to monotherapy.
Kapoor’s optimism also extends to Carisma’s pipeline, particularly with the upcoming CT-0525 product, which promises higher cell doses and potentially more robust anti-tumor responses when combined with Keytruda. This product leverages monocytes, which could lead to a higher yield and more potent anti-tumor effects, as suggested by preclinical data. The transition from CT-0508 to CT-0525, which allows for in vivo differentiation of monocytes to macrophages, is an innovative step that could enhance Carisma Therapeutics’ therapeutic offerings. With initial monotherapy data for CT-0525 expected by the end of 2024, Kapoor maintains a positive outlook on the stock’s future performance.

In another report released on April 2, Capital One Financial also reiterated a Buy rating on the stock with a $10.00 price target.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Carisma Therapeutics (CARM) Company Description:

Sesen Bio, Inc. engages in designing, engineering, and developing of targeted protein therapeutics. It offers the Vicinium and Proxinium which target tumor cell surface antigens that allow for rapid internalization into the targeted cancer cell and also have limited expression on normal cells. The company was founded by Reza Dana, K. Christopher Garcia, Gregory L. Verdine, Casey T. Weaver and K. Dane Wittrup on February 25, 2008 and is headquartered in Cambridge, MA.