On Tuesday, Baird reaffirmed a positive outlook on Cellectis (NASDAQ:CLLS), maintaining an Outperform rating and a $10.00 price target for the company's stock. The endorsement follows Cellectis' announcement of its third-quarter financial results for 2024 and subsequent business developments.
The company's recent updates have been favorably received, particularly with regard to its research collaboration with AstraZeneca (NASDAQ:AZN). This partnership is currently advancing with three active programs, and has already generated significant revenue. In addition to the successful joint efforts, Cellectis' in-house pipeline continues to make headway, with expectations for important data from two of its product candidates, UCART22 and UCART20x22, in 2025.
Baird's analysis suggests that Cellectis' stock is well-positioned for potential growth, driven by the ongoing expansion of the AstraZeneca partnership and forthcoming updates from its internal programs. The firm anticipates that these factors will contribute to upward movement in the company's share price.
Cellectis, a biopharmaceutical company, is engaged in the development of immunotherapies based on gene-edited T-cells. The company's collaboration with AstraZeneca, a leading global biopharmaceutical company, is a significant part of its strategy to advance its research and development efforts.
InvestingPro Insights
Cellectis' financial landscape, as revealed by InvestingPro data, offers additional context to Baird's optimistic outlook. The company's revenue growth is noteworthy, with a 46.96% increase over the last twelve months as of Q3 2024, and an impressive 997.99% quarterly growth in Q3 2024. This aligns with the article's mention of significant revenue generation from the AstraZeneca collaboration.
Despite the positive revenue trend, Cellectis faces financial challenges. The company is not currently profitable, with an operating income of -$77.95 million over the last twelve months. This reflects the typical profile of a biopharmaceutical company investing heavily in research and development, as highlighted by the article's focus on pipeline advancements.
InvestingPro Tips provide further insights. The company "holds more cash than debt on its balance sheet," which could be crucial for funding ongoing research and clinical trials. Additionally, analysts anticipate sales growth in the current year, supporting Baird's positive stance on the stock's potential.
For investors considering Cellectis, it's worth noting that the stock is "trading near its 52-week low" and its "price movements are quite volatile." These factors, combined with the company's promising partnerships and pipeline developments, present a complex investment scenario.
InvestingPro offers 7 additional tips for Cellectis, providing a more comprehensive analysis for those interested in delving deeper into the company's financial health and market position.
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