Morgan Stanley analyst Judah Frommer has maintained their bullish stance on CLDX stock, giving a Buy rating on August 12.
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Judah Frommer has given his Buy rating due to a combination of factors that highlight the potential of Celldex’s barzolvolimab in treating eosinophilic esophagitis (EoE). The upcoming Phase 2 EvolvE study results are anticipated to demonstrate the effectiveness of barzolvolimab, which could prove the ‘pipeline-in-a-product’ concept by addressing a significant unmet need in EoE treatment. This condition affects a substantial number of patients in the U.S., many of whom are not adequately managed by existing therapies.
Frommer’s optimism is further supported by the potential commercial opportunity that success in EoE could unlock for barzolvolimab, diversifying its application beyond chronic urticaria. The market has shown interest in this development, as evidenced by the attention from investors. While Dupixent has set a high efficacy benchmark, even a slightly lower efficacy from barzolvolimab could still be considered a success due to the lack of alternative treatments and its unique mechanism of action. This potential success could lead to a moderate positive impact on Celldex’s stock, justifying the Buy rating.
According to TipRanks, Frommer is an analyst with an average return of -6.0% and a 47.22% success rate. Frommer covers the Healthcare sector, focusing on stocks such as Galapagos, RegenXBio, and Celldex.
In another report released on August 12, LifeSci Capital also maintained a Buy rating on the stock with a $74.00 price target.