Freedom Broker initiates with 'buy' on cancer therapy developer Candel Therapeutics

Freedom Broker has initiated on Candel Therapeutics, which develops immunotherapies for cancer patients, and estimates the stock has upside of more than 100%. The company has low debt and a large cash pile to finance operations, Freedom Broker points out.
Details
Freedom Broker has launched coverage of $313 million-market-cap Candel Therapeutics with a "buy" rating and a target price of $13 per share. That is double current quotes, which, as of the close yesterday, July 15, are $6.25 per share.
Freedom's rationale
Candel Therapeutics is developing a novel cancer immunotherapy platform designed to activate the body’s own immune system to target tumors, Freedom Broker explains. The company’s approach leverages two distinct platforms: Its lead program is based on an adenoviral vector, while a second, earlier-stage platform utilizes herpes simplex virus (HSV), as outlined on the company’s website.
A key milestone is expected in late 2026, when Candel plans to file for regulatory approval of its adenovirus-based therapy in localized prostate cancer, Freedom Broker notes.
Another potential catalyst is the anticipated release of interim data from a phase I trial of the HSV-based platform, which is being evaluated in patients with recurrent high-grade glioma, a highly aggressive brain or spinal cord tumor that returns after treatment. The data is expected in the fourth quarter this year.
Freedom Broker also highlights the company’s strong balance sheet and extended cash runway. As of March 31, Candel reported $92.2 million in cash and cash equivalents, which is sufficient to fund operations into the first quarter of 2027.
What other analysts say
Candel has five ratings from Wall Street analysts, all of them "buys," according to MarketWatch. The average target price is $20.20 per share, implying upside of 220% versus the July 15 close.
The AI translation of this story was reviewed by a human editor.