Analyst Edward Nash of Canaccord Genuity maintained a Buy rating on Celldex, retaining the price target of $62.00.
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Edward Nash has given his Buy rating due to a combination of factors related to Celldex’s promising clinical trial results. The company recently presented 20-week treatment data from its Phase II trial of barzolvolimab for cold urticaria and symptomatic dermographism, which showed sustained clinical benefits and a favorable safety profile. These results build on previously reported positive 12-week data, where the trial met its primary and secondary endpoints, indicating strong efficacy of the treatment.
Furthermore, the data revealed that a significant portion of patients experienced complete or well-controlled disease at the 20-week mark, suggesting a durable response to the treatment. With Celldex planning to initiate a Phase III study soon, these developments underscore the potential for barzolvolimab to become a successful therapeutic option, thereby justifying the Buy rating.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $42.00 price target.
CLDX’s price has also changed moderately for the past six months – from $18.400 to $23.260, which is a 26.41% increase.