TD Cowen analyst Yaron Werber has maintained their bullish stance on CLDX stock, giving a Buy rating on November 7.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Yaron Werber’s rating is based on several promising developments in Celldex’s clinical trials and financial standing. The company’s lead drug, barzolvolimab, has shown exceptional efficacy in treating chronic urticaria, with ongoing Phase 3 trials for both CSU and CIndU. The completion of the Phase 2 trial demonstrated significant long-term benefits and a strong safety profile, which bolsters confidence in its potential success in upcoming studies.
Additionally, Celldex’s financial position is robust, with a cash reserve of $583 million expected to sustain operations through 2027. The encouraging initial data for another candidate, CDX-622, further adds to the company’s potential for growth. These factors, combined with the anticipation of multiple data catalysts in the near future, contribute to Werber’s optimistic Buy rating for Celldex.
In another report released on November 7, Canaccord Genuity also maintained a Buy rating on the stock with a $62.00 price target.