Analyst Sam Slutsky of LifeSci Capital maintained a Buy rating on Celldex, retaining the price target of $74.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Sam Slutsky 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 data for barzolvolimab is anticipated to provide significant insights, especially considering the large patient population affected by EoE in the United States, estimated at over 472,000 cases. This presents a substantial market opportunity, particularly when compared to existing treatments like Dupixent, which has a high annual cost.
Furthermore, the positive implications of barzolvolimab’s success could extend beyond EoE, potentially supporting the efficacy of KIT inhibitors in a broader range of atopic conditions. The study design and the biological rationale for targeting KIT in EoE, along with the competitive landscape analysis, suggest that Celldex is well-positioned to capture a meaningful share of the market if the trial results are favorable. These factors collectively underpin Slutsky’s optimistic outlook and Buy rating for Celldex.
In another report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $64.00 price target.