Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on Celldex, retaining the price target of $50.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors related to Celldex’s promising pipeline and financial stability. The company reported a strong cash position of $630.3 million, which is expected to support operations through 2027, providing a solid financial foundation for ongoing and future projects. This financial security allows Celldex to focus on advancing its diverse pipeline, which includes multiple promising programs in various stages of clinical trials.
Key developments in Celldex’s pipeline include the ongoing Phase 3 studies for barzolvolimab (CDX-0159) in chronic spontaneous urticaria (CSU) and the planned global Phase 3 program for chronic inducible urticaria (CIndU) set to start in the second half of 2025. Additionally, the company is progressing with Phase 2 studies in eosinophilic esophagitis (EoE), prurigo nodularis (PN), and atopic dermatitis (AD), as well as a Phase 1 study for CDX-622. Pantginis’s valuation is based on a clinical net present value model, primarily driven by barzolvolimab’s potential in its lead indications, with additional upside potential from other pipeline assets as they advance. However, risks such as failed clinical trials or funding challenges could impact the achievement of the $50 price target.
According to TipRanks, Pantginis is an analyst with an average return of -14.5% and a 34.77% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Krystal Biotech, Cytokinetics, and Iovance Biotherapeutics.