Analyst Thomas Smith of Leerink Partners maintained a Buy rating on Celldex (CLDX – Research Report), with a price target of $78.00.
Thomas Smith has given his Buy rating due to a combination of factors that highlight Celldex’s promising clinical developments and strategic advancements. The company’s lead asset, barzolvolimab, is progressing well in its Phase 3 EMBARQ program for chronic spontaneous urticaria, with a primary completion date anticipated in October. This program’s progress, along with the upcoming presentation of a 52-week quality of life analysis from the Phase 2 trial, underscores the asset’s potential as a best-in-class treatment.
Additionally, Celldex’s pipeline is robust, with plans to initiate a Phase 3 trial for chronic inducible urticaria in the first half of 2025 and the completion of enrollment in a Phase 2 study for eosinophilic esophagitis. The latter represents a significant opportunity due to the limited availability of advanced biologic treatments in this area. Furthermore, the company’s development of CDX-622, a bispecific antibody, into a Phase 1 trial indicates potential future applications in asthma and other pulmonary diseases. Overall, the unique mechanisms and promising clinical profiles of Celldex’s assets position the company for substantial commercial success.
According to TipRanks, Smith is a top 100 analyst with an average return of 35.8% and a 48.45% success rate. Smith covers the Healthcare sector, focusing on stocks such as Viridian Therapeutics, Argenx Se, and Celldex.
In another report released on February 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $80.00 price target.