H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Celldex today and set a price target of $42.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors related to Celldex’s strategic focus and promising therapeutic developments. Despite the mixed results from the Phase 2 trial of barzolvolimab (barzo) in eosinophilic esophagitis (EoE), Pantginis emphasizes the drug’s favorable safety profile and its intended mechanism of action in mast cell biology. He acknowledges that while the EoE study did not show symptom improvement, the significant change in mast cell count indicates barzo’s potential efficacy in other conditions.
Celldex’s decision to discontinue the EoE program and concentrate on its urticaria and prurigo nodularis (PN) programs is seen as a strategic move. Pantginis highlights that these areas remain the company’s top priority, with barzo being considered a differentiated therapeutic agent. The ongoing investigation into these indications, supported by the EoE Phase 2 safety data, reinforces Pantginis’s confidence in the company’s future prospects, justifying his Buy rating.
Pantginis covers the Healthcare sector, focusing on stocks such as Capricor Therapeutics, Krystal Biotech, and Iovance Biotherapeutics. According to TipRanks, Pantginis has an average return of -10.3% and a 37.07% success rate on recommended stocks.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $38.00 price target.