On Friday, Truist Securities adjusted its price target on shares of Autolus Therapeutics plc (NASDAQ:AUTL), lifting it to $10.00 from the previous $10.00 while reiterating a Buy rating on the stock. The firm expressed confidence in the company's prospects, particularly with the advancement of Obe-cel, Autolus's leading product candidate, towards its commercial launch.
The firm's analysts highlighted the significance of the upcoming year for Autolus, as the company is on the path to commercialize Obe-cel for adult Acute Lymphoblastic Leukemia (ALL), with a Prescription Drug User Fee Act (PDUFA) date set for November. They believe that Obe-cel could potentially establish a strong position in the autoimmune therapeutic market.
Despite the platform validation that BioNTech (NASDAQ:BNTX) has received, Truist Securities suggests that the market has not fully recognized the potential of Obe-cel in treating adult ALL. The analysts project that Autolus could become a leading competitor in the CAR-T cell therapy space.
The firm's optimism is also based on recent earnings reports and a follow-up call with Autolus's management. These discussions have led to updated models and forecasts by the analysts at Truist Securities. It is important to note that the new $10 price target does not yet account for any potential revenue from autoimmune indications, indicating room for future evaluation enhancements.
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