Celldex’s Barzolvolimab Shows Promising Long-Term Efficacy in CSU: Analyst Recommends Buy with $64 Target

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.

Edward Nash has given his Buy rating due to a combination of factors surrounding Celldex’s promising developments in their Phase II study of barzolvolimab for chronic spontaneous urticaria (CSU). The company is set to present 76-week data at an upcoming conference, which follows previously reported positive results from the 12-week and 52-week data. These earlier results showed a significant reduction in urticaria disease activity, suggesting the potential for sustained efficacy of the treatment.
Furthermore, the 76-week data will provide insights into the off-treatment efficacy and safety of barzolvolimab, which is crucial for addressing the challenges of long-term disease management in CSU. Given that a substantial portion of patients do not respond adequately to existing treatments like antihistamines and omalizumab, the new data could position barzolvolimab as a valuable alternative. This potential for addressing unmet needs in the treatment landscape underpins Nash’s optimistic outlook and the reiterated price target of $64.

CLDX’s price has also changed moderately for the past six months – from $27.010 to $20.420, which is a -24.40% drop .