Celldex: Strong Financials and Promising Clinical Developments Support Buy Rating

Morgan Stanley analyst Judah Frommer has maintained their bullish stance on CLDX stock, giving a Buy rating today.

Judah Frommer has given his Buy rating due to a combination of factors including Celldex’s strong financial position and promising clinical developments. The company has reiterated its cash runway guidance through 2027, indicating a solid financial foundation to support ongoing and future clinical trials.
Additionally, Celldex is advancing its clinical programs with significant updates expected in the near term. The upcoming 76-week Phase 2 data for barzolvolimab in chronic spontaneous urticaria (CSU) and the anticipated Phase 2 data in eosinophilic esophagitis (EoE) later this year are key milestones that could positively influence investor sentiment. These developments, along with ongoing enrollment in various studies, underscore the potential for Celldex to address unmet medical needs, thereby supporting the Buy rating.