Candel Therapeutics, Inc. (NASDAQ:CADL) Receives Average Rating of "Buy" from Brokerages

Key Points

• Candel Therapeutics has received an average consensus rating of "Buy" from five analysts, with four recommending a buy and one a strong buy, alongside an average target price of $22.00.
• The company has shown promising financial performance, reporting $0.13 earnings per share in its last quarterly earnings, surpassing analyst expectations by $0.37.
• Candel Therapeutics is a clinical-stage biopharmaceutical company focusing on developing immunotherapies for cancer, currently with multiple clinical trials underway for various cancers.

Candel Therapeutics, Inc. (NASDAQ:CADL - Get Free Report) has received a consensus rating of "Buy" from the five ratings firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $22.00.

CADL has been the topic of a number of research analyst reports. HC Wainwright raised shares of Candel Therapeutics to a "buy" rating and set a $23.00 price objective on the stock in a report on Monday, June 30th. Brookline Capital Management upgraded shares of Candel Therapeutics to a "strong-buy" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen upgraded shares of Candel Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Candel Therapeutics Price Performance

NASDAQ CADL opened at $6.31 on Tuesday. The firm's fifty day simple moving average is $5.76 and its two-hundred day simple moving average is $6.39. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 0.01. Candel Therapeutics has a 12-month low of $3.79 and a 12-month high of $14.60. The firm has a market capitalization of $316.15 million, a P/E ratio of -4.71 and a beta of -0.89.

Candel Therapeutics (NASDAQ:CADL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.37. Analysts forecast that Candel Therapeutics will post -1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Candel Therapeutics in the fourth quarter worth about $30,000. Russell Investments Group Ltd. raised its position in shares of Candel Therapeutics by 75.1% in the fourth quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company's stock worth $33,000 after acquiring an additional 1,610 shares during the period. Taylor Financial Group Inc. acquired a new position in shares of Candel Therapeutics in the first quarter worth about $56,000. Private Advisor Group LLC acquired a new position in shares of Candel Therapeutics in the first quarter worth about $58,000. Finally, Invesco Ltd. acquired a new position in shares of Candel Therapeutics in the first quarter worth about $59,000. Institutional investors and hedge funds own 13.93% of the company's stock.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.

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