Celldex (CLDX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Derek Archila from Wells Fargo maintained a Buy rating on the stock and has a $44.00 price target.
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Derek Archila has given his Buy rating due to a combination of factors including the promising data from Celldex’s barzolvolimab. The drug has shown a durable and competitive complete response benefit in treating chronic spontaneous urticaria (CSU), with a significant percentage of patients maintaining a complete response off the drug. This positions barzolvolimab favorably against competitors like dupilumab and remibrutinib.
Additionally, the reversibility of barzolvolimab’s on-target adverse events and the sustained improvement in patients’ quality of life further support the drug’s potential. The 76-week data suggests dosing flexibility, which could broaden its use to earlier lines of treatment. Despite current market concerns over the drug’s toxicity profile, the upcoming Phase 2 trial in eosinophilic esophagitis (EOE) presents an unpriced upside catalyst, reinforcing the Buy recommendation.
According to TipRanks, Archila is a 5-star analyst with an average return of 9.3% and a 50.61% success rate. Archila covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals, Exelixis, and Blueprint Medicines.
In another report released on June 11, Canaccord Genuity also maintained a Buy rating on the stock with a $64.00 price target.
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