TD Cowen analyst Yaron Werber has maintained their bullish stance on CLDX stock, giving a Buy rating on February 13.
Yaron Werber has given his Buy rating due to a combination of factors surrounding Celldex’s promising clinical advancements and financial stability. The company’s lead asset, barzolvolimab, has shown encouraging results in ongoing trials, particularly in the treatment of chronic spontaneous urticaria (CSU) and chronic inducible urticaria (CIndU). The data from these trials indicate rapid and durable improvements in patient outcomes, with safety profiles that are manageable, which supports the potential for long-term success in these indications.
Furthermore, Celldex’s financial position is solid, with a substantial cash runway that extends through the development of barzolvolimab. The company is also actively pursuing additional trials, including Phase 3 studies for CSU and CIndU, which are expected to further validate the efficacy and safety of their treatments. These strategic developments, alongside the anticipated data readouts in 2025, contribute to the positive outlook and justify the Buy rating.
In another report released on February 13, UBS also initiated coverage with a Buy rating on the stock with a $44.00 price target.