Celldex (CLDX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Sam Slutsky from LifeSci Capital maintained a Buy rating on the stock and has a $74.00 price target.
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Sam Slutsky has given his Buy rating due to a combination of factors related to Celldex’s promising developments and strategic advancements in their pipeline. The company has recently reported positive progress with barzolvolimab, a monoclonal antibody targeting KIT, in treating chronic spontaneous urticaria (CSU). The upcoming presentation of 76-week data at the EAACI meeting is expected to showcase the potential of barzolvolimab to maintain disease control even after treatment cessation, which could significantly impact patient quality of life.
Furthermore, Celldex is advancing its Phase 2 trials for chronic inducible urticaria and eosinophilic esophagitis (EoE), with data releases anticipated later in 2025. The company’s strategic planning, including the incorporation of updated epidemiology data from Novartis into revenue projections, highlights a robust approach to market potential. Additionally, Celldex’s financial position, with a cash runway of approximately 2.8 years, supports its ongoing research and development activities, making it a compelling investment opportunity.
In another report released on May 11, Canaccord Genuity also maintained a Buy rating on the stock with a $64.00 price target.