Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Celldex (CLDX – Research Report) and keeping the price target at $80.00.
Joseph Pantginis has given his Buy rating due to a combination of factors, primarily focusing on Celldex’s financial stability and promising pipeline developments. The company concluded the year with a robust cash position of $725.3 million, which is anticipated to support operations through 2027, providing a solid financial foundation for future growth.
Moreover, the progress of barzolvolimab (barzo) across multiple indications is a key driver of the positive outlook. The ongoing and planned Phase 3 studies for chronic spontaneous urticaria and chronic inducible urticaria, along with the Phase 2 studies in eosinophilic esophagitis, prurigo nodularis, and atopic dermatitis, demonstrate a strong commitment to advancing treatments in these areas. Additionally, the early-stage development of CDX-622 further underscores the potential for future growth and innovation within Celldex’s pipeline.