Autolus Therapeutics' Obe-Cel's Shows Compelling Safety Over Gilead's Drug For Acute Lymphoblastic Leukemia
Portfolio Pulse from Vandana Singh
Truist has raised the price target for Autolus Therapeutics PLC (NASDAQ:AUTL) from $6 to $9 with a Buy rating on Obe-cel's prospects. The analyst sees Obe-cel as a potential new standard of care for acute lymphoblastic leukemia (ALL), superior to Tecartus sold by Kite Pharma, a Gilead Sciences Inc (NASDAQ:GILD) subsidiary. Autolus is expected to get its first CAR-T approved next year. The analyst increased Obe-cel market penetration to 60% and forecasts peak sales of $300 million.
August 17, 2023 | 5:22 pm
News sentiment analysis
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NEGATIVE IMPACT
Gilead Sciences' subsidiary Kite Pharma's drug Tecartus is seen as less preferable compared to Autolus Therapeutics' Obe-cel for treating ALL.
The analyst's view of Obe-cel as a potential new standard of care for ALL, superior to Tecartus, could negatively impact Gilead Sciences' stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Autolus Therapeutics' Obe-cel is seen as a potential new standard of care for ALL, with a raised price target from $6 to $9. The company is expected to get its first CAR-T approved next year.
The raised price target and positive analyst outlook on Obe-cel's prospects indicate a positive short-term impact on Autolus Therapeutics' stock. The expected approval of its first CAR-T next year also adds to the positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100