Wells Fargo Analyst Raises Cabaletta Bio Price Target by 178.6%

By Don Francis, Editor
September 19, 2023 10:31 AM UTC
Wells Fargo Analyst Raises Cabaletta Bio Price Target by 178.6%

Wells Fargo's Derek Archila raised their price target on Cabaletta Bio (NASDAQ: CABA) by 178.6% from $14 to $39 on September 18, 2023. The analyst maintained their Strong Buy rating on the stock.

According to Archila, the positive outlook for Cabaletta Bio's shares over the next 6 to 12 months is driven by the potential validation of competitor datasets, which could further support the company's CABA-201 ahead of its Phase 1/2 data release in the first half of 2024. With a market capitalization of $585 million, Wells Fargo sees significant upside potential for the stock price from its current levels.

It is worth noting that all of the top-rated analysts currently rate Cabaletta Bio as a Strong Buy or Buy, with no analysts recommending a Hold or selling the stock. This positive sentiment among analysts reflects the confidence in the company's prospects.

In terms of recent performance, CABA's stock price has seen a significant increase of 44.5% since its last quarterly report on June 30, 2023. Looking at the year-over-year performance, the stock has surged by an impressive 2272.8%. During this period, Cabaletta Bio has outperformed the broader market, with the S&P 500 index only rising by 14.2%.

Derek Archila, the Wells Fargo analyst who issued the rating, is highly regarded within the industry. Ranked in the top 1% out of 4,329 Wall Street analysts by WallStreetZen, Archila boasts an average return of 43.1% and a win rate of 54.2%. Specializing in the Energy and Healthcare sectors, their expertise adds credibility to the positive rating and price target for Cabaletta Bio.

Cabaletta Bio, Inc. is a clinical-stage biotechnology company based in Philadelphia, Pennsylvania. The company focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. Their proprietary technology, known as chimeric autoantibody receptor (CAAR) T cells, selectively binds and eliminates disease-causing B cells or pathogenic B cells that produce autoantibodies. Cabaletta Bio's lead product candidate, DSG3-CAART, is currently in Phase I clinical trials for the treatment of mucosal pemphigus vulgaris, an autoimmune blistering skin disease, and Hemophilia A with Factor VIII alloantibodies. The company's product candidate pipeline also includes MuSK-CAART for a subset of patients with myasthenia gravis, FVIII-CAART for a subset of patients with Hemophilia A, and DSG3/1-CAART for the treatment of mucocutaneous pemphigus vulgaris. Cabaletta Bio has collaborations with the University of Pennsylvania and a research agreement with The Regents of the University of California.

What are the top analysts predicting for Cabaletta Bio?

WallStreetZen tracks the performance of nearly 4,000 Wall Street analysts, whom we rank by average returns, frequency, and win-rate (backtested over multiple years).

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