Candel Therapeutics

CADL · NASDAQ

$8.64+$0.43 (+5.24%)TodayMarket closed · Oct 20, 7:32 PM ET

Prev close $8.21

CADL analyst rating

BuyConsensus of 9 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy9
Hold0
Underperform0
Sell0

12-month price target · 10 analysts

Average $22.18 (+156.8% upside)

Low: $15.15
Now: $8.64
High: $30.45

Upgrades and downgrades

The latest rating actions, newest first

CADL analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
B of A Securities	Sep 21, 2026	Upgrade	Neutral → Buy	$12.00 → $18.00	36%
B of A Securities	Aug 14, 2026	Maintains	Neutral	$9.00 → $12.00	36%
HC Wainwright & Co.	Aug 13, 2026	Maintains	Buy	$23.00	41%
Stifel	Jul 13, 2026	Initiates	Buy	$22.00	46%
Cantor Fitzgerald	Apr 20, 2026	Initiates	Overweight	—	—
Citigroup	Mar 18, 2026	Maintains	Buy	$22.00 → $26.00	42%
Citigroup	Mar 13, 2026	Maintains	Buy	$24.00 → $22.00	42%
Canaccord Genuity	Mar 13, 2026	Maintains	Buy	$25.00	35%
Stephens & Co.	Dec 8, 2025	Maintains	Overweight	$15.00	66%
Freedom Broker	Nov 21, 2025	Maintains	Buy	$13.00 → $14.00	45%

The case for and against

Updated Aug 29, 2026

Bull case

Candel Therapeutics is on the path to becoming a successful immunotherapy company, with its two viral immunotherapy platforms showing promising results in clinical trials for different types of cancer. The company's focus on individualized, systemic anti-tumor immune response sets it apart from the competition, and its partnerships with key oncologists further strengthen its chances of success. With a multi-billion dollar opportunity in prostate cancer alone and a strategic approach to clinical trial design and data management, Candel has a promising outlook for long-term growth and profitability.

Bear case

Candel Therapeutics is facing critical milestones in the near term, including the potential BLA submission for CAN-2409 and updates on their manufacturing readiness and clinical developments. However, the company's status as a development-stage biotech with significant capital requirements and the possibility of competition from larger pharmaceutical companies in the highly competitive oncolytic immunotherapy market may result in the need for additional fundraising and potential dilution for investors. Additionally, any negative clinical data or delays in FDA approval could hinder the company's ability to raise funds, further impacting their financial outlook.

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