Celldex, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on the stock and has a $42.00 price target.
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Joseph Pantginis has given his Buy rating due to a combination of factors related to Celldex’s recent clinical trial results. The company’s announcement of positive 20-week data from its Phase 2 trial of barzolvolimab (barzo) in treating chronic inducible urticaria (CIndU) has reinforced its potential as a safe and effective treatment option. The trial demonstrated that barzo achieved significant clinical responses, with a high percentage of patients experiencing complete or partial responses compared to placebo.
Furthermore, the data showed sustained improvements in symptoms such as itch reduction and critical temperature thresholds, alongside a favorable safety profile consistent with previous studies. These promising results not only differentiate barzo in a competitive market but also reduce the risk associated with future Phase 3 trials. Pantginis believes that if these outcomes are replicated in later stages, barzo could become a leading therapy for CIndU, justifying the Buy rating for Celldex’s stock.
In another report released on October 31, LifeSci Capital also maintained a Buy rating on the stock with a $61.00 price target.