Leerink Partners analyst Thomas Smith has maintained their bullish stance on CLDX stock, giving a Buy rating on January 29.
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Thomas Smith has given his Buy rating due to a combination of factors surrounding Celldex’s barzolvolimab, which is perceived as a leading agent in targeting mast cells. The drug has shown outstanding efficacy and a reliable safety profile in multiple Phase 2 studies for urticaria, outperforming competitors in terms of response rates and safety.
Furthermore, despite recent competitive data from other companies like THRD, which showed some promising results, Celldex’s barzolvolimab maintains an edge with its higher efficacy and lower incidence of side effects. Additionally, Celldex holds a strategic market advantage with its Phase 3 trials currently underway, positioning it as a first mover in the market. These factors collectively contribute to Smith’s optimistic outlook and Buy recommendation for Celldex’s stock.
According to TipRanks, Smith is a top 100 analyst with an average return of 37.8% and a 49.90% success rate. Smith covers the Healthcare sector, focusing on stocks such as Argenx Se, Viridian Therapeutics, and Viking Therapeutics.
In another report released on January 29, Cantor Fitzgerald also maintained a Buy rating on the stock with a $67.00 price target.