Century Therapeutics (IPSC) PT Raised to $12 at Piper Sandler

Piper Sandler analyst Edward Tenthoff raised the price target on Century Therapeutics (NASDAQ: IPSC) to $12.00 (from $9.00) while maintaining a Overweight rating.

The analyst commented, "Century is preparing to initiate the Phase I CALiPSO-1 study of CD-19 iNK CNTY-101 in SLE with initial data in 4Q:24, and expects to expand into additional autoimmune diseases. At ASCO, Phase I ELiPSE-1 data showed CNTY-101 achieved ORR of 40% (4/10) including 3 CRs and 1 PR in B cell lymphoma patients. Importantly, no cases of GvHD or DLTs were reported. Century is escalating to 3.0B CNTY-101 cells with more ELiPSE-1 data potentially later this year. Century acquired Clade for preclinical alpha-beta CAR-iT cells including CLDE-308 (CD19) for autoimmune diseases/B-cell lymphoma and CLDE-361 (BCMA) for myasthenia gravis, further solidifying Century's leading position in iPSC-derived cell therapies. We estimate Century has pro forma cash of ~$295 million. We reiterate our Overweight rating and are increasing our price target to $12 from $9."

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