Celldex (CLDX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on the stock and has a $80.00 price target.
Joseph Pantginis has given his Buy rating due to a combination of factors surrounding Celldex’s promising developments in their Phase 2 study of barzolvolimab for eosinophilic esophagitis (EoE). The histologic data presented at Digestive Disease Week ’25 indicate that the anti-KIT therapy could be beneficial for EoE patients, as it shows a reduction in esophageal intraepithelial infiltration of mast cells, which is a primary endpoint of the study.
The data also suggest that treating EoE patients with mast cell depleting agents like barzolvolimab may provide significant clinical benefits, as evidenced by the correlation between intraepithelial mast cells and eosinophil counts in the esophagus. This promising data not only supports the mechanism of action but also helps de-risk future clinical outcomes. With the Phase 2 trial now fully enrolled and results expected in the second half of 2025, there is optimism about the potential impact of barzolvolimab in providing relief for EoE patients.
In another report released on April 28, Canaccord Genuity also initiated coverage with a Buy rating on the stock with a $64.00 price target.