CADL Stock Gets A Bullish Call Just Weeks Before Crucial Prostate Cancer Data Reveal

• The firm stated that the stock is deeply undervalued, with a discounted cash flow estimate of around $30 per share.
• Investors are awaiting extended phase 3 data for CAN-2409 in prostate cancer, as well as from the late-stage trial in non-small cell lung cancer.
• Last month, Candel reported encouraging results from a phase 2a clinical trial of CAN-2409 in non-small cell lung cancer.

Shares of Candel Therapeutics (CADL) drew strong retail interest on Monday after a bullish brokerage call labeled the stock “significantly undervalued,” with optimism building ahead of key trial data in lung and prostate cancer.

Cantor Fitzgerald initiated coverage of Candel Therapeutics with an “Overweight” rating, according to The Fly. The brokerage expressed strong confidence in the stock’s outlook, stating that the shares are “deeply undervalued”, pointing to a discounted cash flow (DCF) estimate of around $30 per share and peak sales potential of $2.4 billion in prostate cancer.

This represents a potential 370% upside from the stock’s Friday closing price of $6.37, when the stock recorded its highest intraday gains in more than 16 months. CADL shares traded 0.5% lower in Monday’s pre-market.

Cantor said the bullish view is backed by positive Phase 3 data, clear regulatory progress under a Special Protocol Agreement, limited competition, and a manageable safety profile. Additional upside could come from the company’s lung cancer program, which is advancing into late-stage trials.

CAN-2409 Shows Promise

Last month, Candel Therapeutics reported encouraging results from a phase 2a clinical trial of CAN-2409 in non-small cell lung cancer. After an additional year of follow-up, 50% of patients were still alive at two years, despite a poor response to prior treatments, the firm said.

The therapy also showed improved survival compared with standard care and remained well-tolerated. Researchers found it helped activate the immune system and turn previously unresponsive tumors into ones that could respond to treatment.

Extended phase 3 results for CAN-2409 in prostate cancer are expected at the American Urological Association 2026 meeting in May. Investors in Candel Therapeutics are waiting for updates on its late-stage trial in non-small cell lung cancer and on other programs such as CAN-3110.

How Did Retail Traders React?

Retail sentiment on Stocktwits turned ‘extremely bullish’ from ‘bullish’ a day earlier. Message volume on the platform surged by around 70% over a 24-hour period, according to Stocktwits data.

One user said the current share price offers a “tremendous opportunity.”

Year-to-date, the stock has gained around 7%.

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