In a report released yesterday, Edward Nash from Canaccord Genuity maintained a Buy rating on Celldex (CLDX – Research Report), with a price target of $64.00.
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Edward Nash has given his Buy rating due to a combination of factors including Celldex’s promising clinical development pipeline and upcoming data releases. The company is advancing its barzolvolimab program with pivotal Phase III studies in chronic spontaneous urticaria (CSU) and chronic inducible urticaria (CIndU), with significant data presentations and study initiations expected in the near future.
Additionally, Celldex is preparing to report top-line results from its Phase II study of barzolvolimab in eosinophilic esophagitis (EoE) and is progressing with trials in prurigo nodularis and atopic dermatitis. The ongoing Phase I study of their bispecific antibody CDX-622 further supports the company’s robust research pipeline. These developments, along with the company’s strategic plans for data presentations and study enrollments, underpin Nash’s confidence in Celldex’s growth potential and justify the Buy rating.
In another report released on May 9, Morgan Stanley also maintained a Buy rating on the stock with a $43.00 price target.