Celldex’s Promising Barzolvolimab Results and Growth Prospects Drive Buy Rating

Analyst Judah Frommer from Morgan Stanley maintained a Buy rating on Celldex (CLDX – Research Report) and keeping the price target at $43.00.

Judah Frommer has given his Buy rating due to a combination of factors related to Celldex’s recent clinical trial results and future prospects. The company’s barzolvolimab (barzo) drug showed promising results in its Phase 2 study for chronic spontaneous urticaria (CSU), with a significant percentage of patients achieving a complete response 28 weeks after the final dose. This indicates the drug’s potential durability and effectiveness, which are crucial for treating severe cases of CSU.
Furthermore, the safety profile of barzolvolimab is encouraging, as most adverse effects related to the drug were transient and resolved over time. The management’s expectation that monitoring of neutrophil counts may not be necessary in a commercial setting further supports the drug’s viability. Additionally, with Phase 3 enrollment expected to conclude in 2026 and upcoming Phase 2 data for another condition, eosinophilic esophagitis (EoE), Celldex is positioned for potential growth and expansion in the biotechnology sector.

In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $44.00 price target.